Coinbase, a major American crypto asset exchange, has announced that it will suspend transactions with customers in Japan due to the deterioration of the business environment and will return the assets entrusted to it.
According to the Japanese subsidiary of Coinbase, a major American crypto asset exchange, it will suspend transactions with customers, such as depositing new assets in Japan.
On the 10th of this month, the company announced that it will reduce 950 people, which is about 20% of all employees, due to the deterioration of the business environment, and this review of the business in Japan is part of that.
According to the Japanese corporation, the assets entrusted by customers in Japan are protected according to the law, and customers can withdraw their legal currency and crypto assets until the 16th of next month.
After that, it is said that the company will be able to receive a return from the legal affairs bureau where the assets are deposited.
The Japanese subsidiary of "Coinbase" said, "Due to changes in the market environment, we have made the difficult decision to completely review our business in Japan and suspend transactions with our customers. We are preparing a thorough system to enable withdrawal of assets. ”.
Regarding crypto assets, FTX Trading, a major exchange company, went bankrupt last year.