Coinbase to cease operations in Japan, here's what's happening Crypto CryptoExchange Trading Blockchain
''Due to market conditions, our company has made the difficult decision to halt operations in Japan and to conduct a complete review of our business in the country. However, we are committed to making this transition as smooth as possible for our valued customers," Coinbase wrote in an officialAll Coinbase Japan customers will have until Feb. 16, 2023, JST, to withdraw their cash and cryptocurrency assets from Coinbase, according to a blog post on the company's website.
Although the company has not stated explicitly that it intends to leave Japan, only that it wishes to conduct a thorough evaluation of its operations, some market observers believe that the crypto exchange may leave the country. Last week, speculation started making the rounds that Coinbase would close the majority of its operations in the Japanese market, following its plan for global job cuts. The exchange said earlier this year that it would be laying off 950 employees, or 20% of its current workforce.
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