Kraken, a cryptocurrency exchange, will cease operations in Japan
- Akansha Gupta
- December 28, 2022
- Crypto, News
- 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.