Coinbase, Digital Asset Markets, and the Tokyo Hash have registered as reported by the JVCEA. Second-class members with the agency can be registered as crypto currency exchange companies, or businesses that are planning to apply.
The Japan Virtual Currency Exchange Association (JVCEA) – the official self-regulatory organization for the crypto industry in Japan – announced on Mar. 2 that three additional companies have just registered as second-class members.
Coinbase was reported to be licensed in Japan in 2019, but hasn’t really made any progress since last year. However, the crypto exchange has found other ways to expand its influence in the Japanese market. For one, by partnering with Bank of Tokyo-Mitsubishi UFJ for Coinbase’s international expansion efforts.
Cointelegraph Japan asked Coinbase’s Nao Kitazawa about the announcement and their plans to open an exchange in Japan, but has yet to receive a response.
Registered crypto exchanges in Japan
Other prominent Japanese companies have applied to obtain a crypto exchange operating license with the FSA, including the messaging giant LINE.
Coinbase, while as yet unsuccessful in Japan, did obtain an e-money license from the Central Bank of Ireland in October. The exchange also navigated the bureaucracy in the United States to register as a broker dealer with the Securities and Exchange Commission in June 2018.
Coinbase Eyes European Growth After Winning Irish E-Money License
Cryptocurrency exchange Coinbase has been granted an e-money license by the Central Bank of Ireland.
Writing in a company blog Saturday, Coinbase UK CEO Zeeshan Feroz said the exchange is one of the very first firms to receive the license from the central bank, following a Dublin office opening a year ago.
The license will also help open up EU and European Economic Area (EEA) markets for Coinbase customers, Feroz said.
Speaking on the announcement, state-sponsored business development agency IDA Ireland – which was set up to attract foreign investment to Ireland – called the move a net positive for the local financial industry
As CEO Mike Shanahan put it:
“Coinbase’s choice of Dublin for this operation reinforces the strength of Ireland as a destination for financial services companies, providing a consistent, certain, pro-enterprise policy environment for businesses to grow and thrive.”
Coinbase was granted a U.K. e-money license by the Financial Conduct Authority in March 2018, allowing the exchange to operate as a money service in the country.
While the U.K. is currently an EU member state, its government is currently attempting to leave the economic bloc via the so-called Brexit in coming weeks or months. If it goes ahead, the separation would render Coinbase’s local license of limited benefit.
Earlier this month, Coinbase gained access to the UK’s Faster Payment Scheme through ClearBank following a split with banking partner Barclays that temporarily caused deposit and withdrawal issues for users.
