Crypto Exchange Kraken to Cease Operations in Japan

In a surprise announcement, the popular cryptocurrency exchange Kraken has announced that it will be ceasing operations in Japan as of January 31st. The move comes after a long period of deliberation by the company, which has been operating in the country since 2014. Kraken’s decision is based on a number of factors, including the increasing regulatory scrutiny from Japanese authorities and rising costs associated with doing business in the country. Despite this, Kraken remains committed to providing its services to customers around the world and will continue to offer support for existing users in Japan until their accounts are closed at the end of January. The news has sent shockwaves through Japan’s crypto community, with many expressing disappointment at Kraken’s decision. Some have even speculated that other exchanges may follow suit if they too face similar regulatory pressures or rising costs. However, others remain optimistic that other exchanges will step up and fill any void left by Kraken’s departure from Japan. Kraken is one of many crypto exchanges operating in Japan, but its departure could still have an impact on the market as a whole. With fewer options available for Japanese investors looking to buy or sell cryptocurrencies, prices could become more volatile as demand shifts away from one platform towards another. It remains to be seen how this situation will play out over time but it is clear that there will be some changes ahead for both traders and investors alike. Despite leaving Japan, Kraken remains committed to providing its services elsewhere around the world and continues to look for new opportunities outside of its home market. The company also recently announced plans to launch a new trading platform called “Kraken Pro” which is designed specifically for professional traders and institutions looking for advanced features such as margin trading and dark pool liquidity access.