Five cryptocurrency exchanges in Japan are closing after their operators reportedly withdrew their applications with the Japanese financial regulator to operate crypto exchanges. They are in the process of returning clients’ cash and crypto holdings.
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Five Exchanges Cease Operations
Five cryptocurrency exchange operators in Japan have withdrawn their applications with the Japanese Financial Services Agency (FSA) to register their crypto exchanges, Nikkei reported on Thursday, adding that “More are expected to follow, as the FSA has given several exchanges a chance to voluntarily close before ordering them to do so.”