Two More Japanese Cryptocurrency Exchanges to Shut Down as Regulations Tighten

It has also announced that they will stop operations in Japan. It is returning cash and cryptocurrency holdings to customers. Two Japanese Digital Currency Exchanges of Sri Exchange and Tokyo Gateway will stop operating. The two exchanges are leading three other Japanese exchanges, Raimu, Bitxpress and Bit stations. This Japanese Financial Services Agency (FSA) was initially licensed to eleven exchanges in September last year. In 2017,

Japan became the only country in the world to monitor the exchange of cryptocurrency at the national level. Apart from this, FSA and sixteen exchanges were allowed to continue operations while their applications with regulators were processing. In the initial decimation, the FSA obtained one and four licenses, and it had received sixteen exchange licenses at the end of December.