LINE wins Japanese government license to launch crypto trading activity
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Answer LINE wins Japanese government license to launch crypto trading activity
LINE, which is a huge app in terms of popularity, has been approved in Japan and has been licensed to engage in crypto trading.
The news was published Source Which states that LINE will be able to provide cryptocurrency exchange services in Japan and the company will benefit from the volume of users that number more than 80 million monthly active users.
The new platform that LINE brings is called “BitBox”.
The license was obtained from the Japan Financial Services Agency, which reported on its official website that a new license was registered from LVC Corp on September 6.
LINE’s CEO also revealed the FSA’s registration and licensing of what the company will offer.
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LINE’s management said last month that it aims to build a “token economy” around its LINE chain and will provide two tokens, LINE Point in Japan and LINK to other countries, to mediate between users and service providers.
It also announced the provision of decentralized applications that fall into categories including: “forecasting, questions and answers, product review…” all aiming to flatten the relationship structure between users and service providers to promote co-founding and mutual growth.
Crypto users in Japan are waiting for several legal amendments related to cryptocurrencies scheduled for release in the spring of 2020.
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