Kraken, a cryptocurrency exchange, will cease operations in Japan

Last updated: 2022/12/28 at 9:20 PM

By Mridul Srivastava 1 month ago

1 Min Read

Kraken, a cryptocurrency exchange, will cease operations in Japan

Kraken, a U.S.-based crypto exchange, will stop operating in Japan next month, citing a weak and unfavorable crypto market.

Kraken claimed it’s fully financed to guarantee customers can withdraw funds on schedule.

Last month, Kraken claimed it would cut its employment by 30%, or 1,100 employees, due to weak digital asset demand.

According to a statement, Kraken will deregister from the Financial Services Agency (JFSA) on January 31.

BREAKING: Crypto exchange #Kraken will leave the Japanese market at the end of January 2023
— whalechart.org (@WhaleChart) December 28, 2022

TAGGED: Crypto, CryptoExchange, Japan, Kraken

Mridul Srivastava December 28, 2022

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By Mridul Srivastava

Mridul is an MBA pursuing a content writing career. He is a dedicated, detail-oriented freelance writer with over 2 years of experience and knowledge in the fields of Web3, blockchain, cryptocurrency, and NFTs. He is skilled in producing long and short content per the guidelines and client requirements for maximum search engine optimization.