147 sats \ 3 replies \ @cointastical 18 Jan 2023 \ on: Crypto exchange Coinbase says it will halt Japan operations bitcoin
This explanation doesn't really make sense.
There's a larger piece of the pie for Coinbase with FTX bankrupt and Kraken leaving. So even with a smaller pie, it would make sense that there's plenty of business for at least one U.S.-based global exchange to remain in Japan.
Something else is going on .
Exactly, smells like new Japanese crypto regulation crackdown incoming.
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Agreed. Weird to see two exchanges exchanges exiting near simultaneously ... unless demand is just abnormally low in Japan for some reason.
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JCB is abandoning the Yen and moving to a Bitcoin standard, resulting in the current pump. 😁 Maybe Coinbase end up holding uncomfortable amounts of Yen.
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