Cryptocurrency exchange Kraken has announced that it will be halting its trading services for Japanese residents, citing rising costs in Japan for the decision.
The San Francisco-based exchange, which began operating in 2014, has said that it will cease operations by the end of June, reports Bloomberg. It added that it may re-enter Japan at some point in the future; however, no date was given.
In a statement, Kraken wrote:
Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas. This is a

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