Japan-based Line awaits crypto license from FSA

Posted 20 June, 2019

Along with Facebook that keeps making noise in the world by its cryptocurrency project Libra, Japan's internet communication leader LINE is getting ready to receive the license for running crypto exchange business.

The sources in the know stated that it is highly possible the Japanese Financial Service Agency will grant the license to the company. It was stated that consideration of the application filed has already moved to the final phases.

In case of the positive determination, the company will become able to keep proceeding with its intentions to launch BitMax exchange in Japan. LINE can enable 80 million clients to enjoy crypto trading services even before this month ends.

For reference, LINE launched BitBox platform in Singapore in mid-2018, but the exchange is not authorized to offer trading services in Japan. There are rumours that the company will apply similar technologies to the new project.

Along with the crypto license, LINE is also waiting for a banking license in Japan. If the authorities approve the application, the company will be able to integrate crypto into its services, in particular, payment options.

By now, the Japanese regulator issued 19 licenses to cryptocurrency exchanges to run business in the country.

Previous story

20 June, 2019 16:21

← KuCoin announces Binance coin listing

Singapore-based cryptographic trading company KuCoin announced the listing of Binance Coin (BNB), the token of the world's leading stock exchange Binance. According to a press release, KuCoin will initially offer the BNB / BTC and BNB / USDT trading pairs. KuCoin also announced that it will support projects based on the Binance Chain blockchain.

KuCoin announces Binance coin listing

Next story

20 June, 2019 13:46

EY report: Gerald Cotten used client funds for trading on other exchange →

The Big Four auditing company Ernst & Young released a new report about further business monitoring at Canadian dead crypto exchange QuadrigaCX. During the review, Ernst & Young appointed by the court as the monitor for the exchange discovered that the former CEO of the platform transferred clients' funds to 3-rd party exchanges and used the money to back marginal positions.

EY report: Gerald Cotten used client funds for trading on other exchange
Write a comment
 
Prove you’re not a bot + 9 = 16