Chainlink (LINK), Basic Attention Token (BAT), and OMG (OMG) are now available for trading on Kraken in Japan.
Kraken, one of the largest crypto exchanges in the world, announced in a blog post on January 12 that Chainlink (LINK), Basic Attention Token (BAT), and OMG (OMG) are now available to Japanese customers.
Jesse Powell, Mt. Gox founded Kraken just a month after visiting Tokyo to help the exchange recover from a hacking incident in 2011. Mt. Gox filed for bankruptcy in March 2014. Kraken, on the other hand, started trading in Japan in September 2014 to fill the void left by the closing giant.
The exchange later suspended its services in Japan in April 2018, following the Coincheck robbery. In October 2020, Kraken restarted its services in the country, initially allowing Japanese residents to trade five cryptocurrencies (Bitcoin, Ether, Litecoin, XRP and Bitcoin Cash).
Japan’s Regulatory Environment
In August, Japan’s main financial regulator, the Financial Services Agency (FSA), set up a panel of financial experts to develop a stricter regulatory framework for the cryptocurrency industry, which is expected to be announced later this year. The FSA also plans to introduce new restrictions for stablecoins.
Japanese stock markets are also trying to prevent the implementation of the “travel rule” recommended by the Financial Action Task Force (FATF), as it will increase compliance costs.