As a positive healthy the crypto community, the top end financial watchdog of Japan has granted a license with a digital asset and cryptocurrency exchange being relaunched by e-commerce giant Rakuten.
Japan’s Financial Service Agency declared the previously mentioned news on Monday. FSA stated the fact that new exchange, Rakuten Wallet, is actually registered along with the Kanto Local Financial Bureau like a digital forex trading service provider within country’s Payment Service Act. The company further confirmed this news in a separate statement.
It has been to be noted that Rakuten Wallet is a wholly-owned subsidiary of Rakuten. It replaces an exchange called Everybody’s Bitcoin Inc. who’s acquired for $2.4 million inside the month of August, 2009.
Interestingly, the firm rebranded the cryptocurrency exchange offering to Rakuten Wallet on March 1. Furthermore, Rakuten mentioned in the announcement, that it can be terminating the older service subsequent this month. Further, it mentioned that users can become a member of the new Rakuten Wallet service from April.
The firm also mentioned Everybody’s Bitcoin were operating to be a “deemed” virtual foreign currency provider since its launch in March 2019. It taken a license at the time. Last spring, the firm received a small-business improvement order out of your Kanto bureau. Furthermore, the firm has officially restructured its management system and upgraded internal systems if you want to obtain the license with the rebooted entity.
At the same time, the Financial Service Agency issued permission to another crypto exchange called DeCurret, which says it can provide spot trading of four digital assets from April 16 in Japan. New accounts begin opening from March 27. Interestingly, the shareholders of DeCurret include notable firms along the lines of Nomura Holdings, MUFG Bank, Internet Initiative Japan Inc., the Dai-ichi A life insurance policy Company, and Daiwa Securities Group to name a few.