Coinbase stops Japan operations amid trading slump

, the contagion still affects the industry, forcing Coinbase cryptocurrency exchange to close operations in Japan.on Jan. 18 that the firm will be terminating operations in Japan and conduct a complete review of its business in the country due to market conditions.

All Coinbase Japan customers will have about a month to withdraw their fiat and crypto holdings from the platform by Feb. 16. After Feb. 17, the remaining crypto assets held by Coinbase Japan customers will be automatically converted to the Japanese yen . Fiat currency deposits will not be available from Jan. 20.

The firm noted that clients will be able to move the assets to any other virtual asset service provider, a self-custodial wallet as well as Coinbase Wallet. Customers can also liquidate their portfolio and withdraw their assets to a domestic bank account. Coinbase stressed that the platform is committed to making the service termination as smooth as possible, assuring customers that all users can withdraw their assets at the earliest convenience.

Or are they just liquidating some assets?

Sad to see Coinbase leave Japan. We need more companies investing in DeFi to bridge the gap and bring nations together. Let's BUIDL towards a more interconnected world! DeFi Cryptocurrency

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Coinbase isnt part of the industry , they are a part of usa gov…

👀

Going to be an interesting year

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