The FSA approves coinbase to operate in Japan crypto market, the crypto exchange offers a list of different cryptocurrencies for trading.
Coinbase ($COIN), one of the biggest cryptocurrency exchange based out of New York, has received approval from Japan’s main regulatory body, the Financial Services Agency (FSA).
Under the new Fund Settlement Act, the FSA registered Coinbase as a cryptocurrency exchange.
Bitcoin (BTC), Bitcoin cash (BCH), Ether (ETH), Stellar Lumen (XLM), and Litecoin (LTC) would be available for trade on the Nasdaq-listed crypto exchange (LTC).
The exchange first revealed its intentions to enter the Japanese crypto market in 2018, stating that it was confident in receiving FSA clearance.
Japan is considered one of the most progressive crypto markets in terms of laws, and has even distributed a regulatory handbook to G-20 countries to assist them in enacting progressive crypto rules.
It (Japan) was the first country to positively regulate crypto assets.
Coinbase is also a member of the Japan Virtual and Crypto Assets Exchange Association (JVCEA), which upgraded the exchange to a first-class member following FSA approval.
In 2018, the crypto exchange became a second-class member of the organization.
The crypto platform has managed to expand its reach and service offerings to new domains and areas since its public debut on Nasdaq in April of this year.
After partnering with ForUsAll, a 401(k) pension plan provider, it just entered the pension industry. At the time of its Nasdaq listing, the exchange was one of the most valuable firms in the world.
Coinbase made its public debut after a record-breaking first quarter, with more than 50 million registered users and $1.8 billion in sales.
