Japan’s Financial Service Agency has forced one of the biggest Bitcoin exchanges bitFlyer to cease new account registrations due to inadequate AML/KYC requirements.
bitFlyer’s launch into Europe comes hot on the heels of explosive growth in Japan and launch in the US in 2017. bitFlyer is the world’s largest Bitcoin exchange and the only one licensed in Europe that will allow users to trade with Japan, the world’s largest market for bitcoin trading.
Tokyo-based bitFlyer, world’s largest Bitcoin exchange, has recently received an approval-nod from the New York Department of Financial Services (DFS) to start its operations in U.S.
Foundation of the BitFlyer’s entity in the US marks the first expansion of the leading Japanese exchange into a new, regulation-challenging market.
bitFlyer, the largest Bitcoin and blockchain company in Japan, will launch its US-based Bitcoin exchange by the Fall of 2017.
Japanese venture capital firms Dentsu Digital Holdings, Mitsubishi UFJ Capital Company Limited and others keep investing: bitFlyer raises $4m in this round.