Coinbase Halts its Operations in Japan

Coinbase Halts its Operations in Japan

Global cryptocurrency exchange Coinbase halts its operations in Japan due to “market conditions”. Coinbase Japan users will have until February 16 to withdraw their fiat and crypto assets from the exchange. 

The leftover crypto assets that are held after February 17 will be converted to Japanese yen. Deposits made in fiat currency won’t be accepted after January 20. If customers do not take any action before February 16th, they will have to coordinate with the Legal Affairs Bureau to retrieve their JPY balance.

Coinbase stated that customers could transfer their assets to Coinbase Wallet, or any other virtual asset service provider. Additionally, they can liquidate their holdings and withdraw money to a local bank account.

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