Coinbase gets FSA approval to enter the Japanese crypto market
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Answer Coinbase gets FSA approval to enter the Japanese crypto market
Coinbase, one of the largest cryptocurrency companies in the United States of America, is ready to enter the Japanese cryptocurrency market after obtaining approval from the Financial Services Agency (FSA), which is the country’s top regulatory body.
The FSA has registered Coinbase as a cryptocurrency trading platform under the Amended Funds Settlement Act.
Nasdaq-listed cryptocurrency exchange Coinbase will offer five cryptocurrencies for trading in the Japanese market:
Bitcoin, Bitcoin Cash, Ethereum, Stellar, Litecoin.
Coinbase first announced its plans to enter the Japanese crypto market in 2018 and said it was confident of receiving approval from the Financial Services Authority.
Japan is seen as one of the most advanced crypto markets in terms of regulation, and it has distributed a regulatory handbook to the G20 countries to help them with the implementation of crypto market regulation.
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Japan is the first country to positively regulate cryptocurrency.
Coinbase becomes a Tier 1 member of JVCEA:
Coinbase is also a member of the Japan Virtual and Crypto Exchange Association, which promoted Coinbase’s entry into Japan after obtaining FSA approval.
Coinbase joined the organization as a second-tier member in 2018.
After making its public debut on the Nasdaq in April of this year, Coinbase has been able to expand its reach and service offerings into new areas and regions.
I recently entered the pension market after partnering with providers of retirement plans.
Coinbase was one of the most valuable companies at the time of the Nasdaq listing, as Coinbase showed its strength in the high-figure first quarter of 2021 as the numbers indicated 50 million registered customers and $1.8 billion in revenue.
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