Kraken leaves Japan

The popular cryptocurrency exchange Kraken is leaving Japan, and this has already been confirmed by the media citing the official corporate statement. The exchange is to cease operations in the major cryptocurrency hub since July.

While being popular worldwide, Kraken was not the most interesting exchange for Japan residents even before the turning point of the whole market. This event was, of course, the hack of another digital currency exchange, Coincheck. After the disastrous less of over $500M of funds in NEM, the Japanese authorities simply could not sit idly and even announced a completely new law enforcement body responsible for cryptocurrency theft prevention and related cases investigation.

Due to the fact that Kraken was not a Japanese-based exchange, the news simply means the closure of its branch in Japan. The headquarters of the organization are based in San Francisco, USA.

Kraken has previously been noticed in a lawsuit initiated by angry investors who suffered as a result of DDoS attack on the organization. The debates are still going on, and this is confirmed by the website of Silver Miller law firm connected with the court proceedings.

Image courtesy of Robertharding.com