3 June 2018
HitBTC, the world’s most technologically advanced exchange platform, has been lining up regulatory infrastructure to establish licensed subsidiary in Japan. The company has been in consultation with the 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.
Previously this year, HitBTC team started working with a worldwide-recognized Japanese law firm, the cooperation aimed to get HitBTC through the local subsidiary setup and licensing procedure to resume its services for Japan residents. The company is actively hiring for the local office and exploring M&A opportunities to expedite the launch of the Japanese operations in Q3 2018”.
“We would like to thank all our customers from Japan for your support and loyalty, – the HitBTC team representative says, – 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 is essential for keeping the market civilized. Bearing in mind extensive regulatory approvals we are yet confident to restart the business very soon.
HitBTC has been working closely with authorities and regulatory bodies from different regions worldwide. The HitBTC team has allocated great resources and focus on the APAC region and on the future growth in the region.
About HitBTC
Since 2013, HitBTC has been the world’s most technologically advanced cryptocurrency exchange.
Created as a collaboration between outstanding technical minds, high-level finance professionals and experienced traders, HitBTC has delivered the most reliable, fast and powerful platform in its segment. The HitBTC team strives for maintaining this forefront position in accordance with the new security requirements, regulations and the heightened service level demand of the crypto trading industry.