OKCoin becomes the first global cryptocurrency exchange to be licensed in Japan
Cryptocurrency company OK Group opens a new trading platform in Japan. As noted by Bitcoinist, it is the first global cryptocurrency exchange to be licensed by a local regulator. OK Group brings together brands such as OKCoin and OKEx.
According to the publication, OKCoin Japan Co. Ltd. headquartered in Tokyo, has completed the registration of its legal education and is ready to provide virtual asset exchange services to local traders. The company states that it has always strived to operate in accordance with the requirements of the Financial Services Agency (FSA) and the Japan Virtual Currency Exchange Association. OKCoin also completed the preparation of measures to protect users and their assets.
“The license issued today, despite the difficult situation with the coronavirus in Tokyo, was a significant endorsement for us,” said OKCoin CEO John Feng. – It demonstrates not only the interest of the regulator in the crypto industry, but also the support provided by OKCoin Japan. This is the first license this year and the first ever that the global cryptocurrency exchange managed to obtain through the usual registration procedure “.
The company noted that it is working on a commercial application of the blockchain in collaboration with local partners. In addition, she intends to announce a set of special services for institutional clients..
OKCoin Japan will support most of the major digital assets, including Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Bitcoin Cash. At the launch stage, the possibility of working with traditional currencies is not provided.
In December 2019, OK Group announced its intention to invest $ 140 million in the development of the blockchain industry in China..
Note that the Huobi cryptocurrency exchange also operates in the Japanese market. In her case, the license was obtained not by regular registration with the FSA, but by purchasing a local licensed site BitTrade.
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