{"id":47964,"date":"2023-04-17T10:08:18","date_gmt":"2023-04-17T14:08:18","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=47964"},"modified":"2023-04-17T15:36:24","modified_gmt":"2023-04-17T19:36:24","slug":"amber-group-may-sell-its-japan-unit-after-buying-decurret","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/amber-group-may-sell-its-japan-unit-after-buying-decurret\/","title":{"rendered":"Amber Group May Sell its Japan Unit After Buying DeCurret"},"content":{"rendered":"\n

Amber Group, a crypto lending platform based in Singapore, is thinking about selling its Japan unit as part of a plan to focus more on institutional than retail customers, managing partner Annabelle Huang<\/strong><\/em> said in a Bloomberg Television interview Friday.<\/p>\n\n\n\n

\"Amber
Amber Group May Sell its Japan Unit After Buying DeCurret<\/figcaption><\/figure>\n\n\n\n

Amber Group bought Japanese crypto exchange DeCurret last year for an undisclosed amount. DeCurret is one of the 30 crypto exchanges registered with the Japan Financial Services Agency <\/a>(FSA), the country\u2019s regulator. DeCurret has 35 shareholders, including major Japanese financial institutions and corporations.<\/p>\n\n\n\n

However, Huang said that Japan is a \u201chigh-quality market \u2026 [but] regulations are strict.\u201d<\/em> She said that Amber Group wants to concentrate on its core business of providing crypto lending<\/a> and trading services to institutional clients.<\/p>\n\n\n\n

Amber Group bought DeCurret in February 2022. Amber Group said the acquisition signified its entry into Japan and that it would use DeCurret's crypto exchange platform and broad in-market reach to unlock Japan's crypto market potential.<\/p>\n\n\n\n

DeCurret, a crypto asset exchange service provider formed in 2018, received an FSA license in 2018, (CAESP). DeCurret pioneered crypto asset electronic money charge services and made cryptocurrency more accessible to users.<\/p>\n\n\n\n

Amber Group\u2019s decision to sell its Japan unit may reflect the changing regulatory landscape for crypto firms in Japan.<\/p>\n\n\n\n

Crypto exchanges must now follow stronger FSA anti-money laundering, client protection, and risk management requirements. The FSA has also warned about unregistered overseas crypto platforms that serve Japanese residents.<\/p>\n\n\n\n

On the other hand, Japan has also shown signs of creating a more friendly regulatory environment for crypto firms, with the ruling Liberal Democratic Party publishing a white paper to boost the industry in the country. <\/p>\n\n\n\n

The white paper proposes changes to tax regulation and improvements to accounting standards for crypto assets.<\/p>\n\n\n\n

Huang also said that Amber Group is planning to apply for a virtual asset trading platform\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (VATP) license in Hong Kong, following the introduction of a new licensing regime in the city. She said that Hong Kong \u201chas been very bullish\u201d on crypto regulation. <\/p>\n\n\n\n

She added that Singapore, where Amber Group is based, is also \u201cnot exactly closing the door as well.\u201d<\/p>\n\n\n\n

Amber Group has not responded to CoinDesk's request for further comment at this time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amber Group, a crypto lending platform based in Singapore, is thinking about selling its Japan unit as part of a plan to focus more on institutional than retail customers, managing partner Annabelle Huang said in a Bloomberg Television interview Friday. Amber Group bought Japanese crypto exchange DeCurret last year for an undisclosed amount. DeCurret is […]<\/p>\n","protected":false},"author":44,"featured_media":47966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11401],"tags":[12609,710,883],"class_list":["post-47964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stories","tag-amber-group","tag-business","tag-japan"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/04\/ambergroup-x.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/47964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=47964"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/47964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/47966"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=47964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=47964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=47964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}