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Crypto player Kraken to exit Japan amid sector’s annus horribilis

Kraken Crypto Japan FTX Sam Bankman-Fried

US-based cryptocurrency exchange Kraken has announced it will cease operations in Japan [File: Edgar Su/Reuters]

United States-based cryptocurrency exchange Kraken has announced it will exit Japan, becoming the latest player to scale back operations after a horror year for digital assets.

Kraken will cease operations in the East Asian country by deregistering from the Financial Services Agency on January 31, the company said in a statement on Wednesday.

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