Coinbase Approved To Enter Japan's Cryptocurrency Market

Coinbase is now registered as a cryptocurrency exchange to operate in Japan. Japan's financial regulator has approved Coinbase for trading five cryptocurrencies. Japan's top financial regulator, the Financial Services Agency (FSA), announced last week that it has registered Coinbase as a crypto exchange service provider under the revised Funds Settlement Act. According to the FSA, Coinbase is approved for trading bitcoin (BTC), bitcoin cash (BCH), ether (ETH), star lumens (XLM), and litecoin (LTC). The approved body is a Japanese subsidiary of Coinbase Global, a Nasdaq-listed company. Coinbase has announced its plan to enter the Japanese crypto market in 2018. The company said at the time it would "work hand in hand with Japan's FSA to ensure compliance with local laws at every stage." Coinbase is also a member of the Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulated organization. Following Coinbase's successful registration with the FSA, the association announced that the company is now a "premier member". In 2018, Coinbase joined the JVCEA as a "second-class member" – the category reserved for companies not registered with the FSA. What do you think of Coinbase's entry into the Japanese crypto market? Let us know in the comments below.

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