The Japanese cryptocurrency market continues to experience upheaval as the industry continues to experience the fallout from the collapse of FTX.
Coinbase’s decision to explore the potential withdrawal of its business from the country could have far-reaching implications for the crypto industry in Japan and beyond.
As regulatory expenses are expected to rise, other major players in the industry are also looking to reassess their presence in the market.
The Payward group’s decision to close down its operations in Japan, and the move to request clients to move any residual crypto assets they own onto digital wallets hosted by third-party services, is reflective of the current state of the market.
As the industry continues to experience the aftermath of the FTX collapse, further changes in the Japanese cryptocurrency market are sure to follow.
