Home News HitBTC, Japanese Subsidiary under Preparation Process ②

HitBTC, Japanese Subsidiary under Preparation Process ②

by default1
  • Comments by Representative  
  • Focus on APAC Region

HitBTC, major cryptocurrency Exchange platform, has been under the preparation to set up a licensed subsidiary in Japan, according to its blog.
The Exchange has been in consultation with the local regulator and decided to suspend its operations for Japanese residents to comply with current regulation. The measure has been taken in response to recent regulatory changes by the Japanese Financial Services Agency (FSA), and will apply only to those living in the country.
HitBTC started working with a well-known Japanese law firm early this year, as it   aimed to get HitBTC through the local subsidiary setup and licensing procedure to resume its services for Japan residents.
The Bourse is actively hiring for the local office and exploring M&A opportunities to  launch the Japanese operations in Q3 2018.
HitBTC’s Representative was cited as saying that being among the industry leaders means not only developing outstanding technology to contribute to the industry growth, but also an incredible level of responsibility. This of course includes responsibility for users’ security and higher level of service, but at the same time compliance to the regulations to keeping the market civilized.
The Exchange has been working closely with authorities and regulatory bodies from different regions worldwide, and would focus on the APAC region.
HitBTC is a crypto Exchange since 2013 with available coins, including Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, and more than 300 cryptocurrencies in total, according to its website.