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Coinbase Gets the Official Green Light of Japan’s Financial Services Agency

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The Financial Services Agency (FSA) of Japan granted a permit to Coinbase, the US-listed cryptocurrency exchange, becoming the first Western firm to receive a license of its kind. The FSA updated its database on crypto exchanges licensed, and according to the guidelines, the company is approved to offer trading services on Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Stellar Lumen (XLM), and Litecoin (LTC).

Per the licensing, the entity is a Japanese subsidiary of Coinbase Global. Also, the firm is registered in Japan as a crypto exchange service provider based on the revised Fund Settlement Act. Coinbase opened its first office in Japan in 2018. At that time, the US-listed company went on to say that it has “big plans” for the year ahead, including the completion of its registration with Japan’s Financial Services Agency.

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According to the filings, the licensing was granted to Coinbase on June 18 – the same day when the FSA also approved a permit to Tokyo Hash, a Japanese firm.

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Recent Coinbase Appointments

Recently, Finance Magnates learned that Christian Sabella, an executive veteran in the fintech industry, has been named by Coinbase as its new Senior Director and Associate General Counsel of the exchange’s capital markets division.

Moreover, Coinbase announced in May that it had appointed Faryar Shirzad, a former White House official, as its new Chief Policy Officer to face the ongoing regulatory environment that the crypto sphere is facing off globally.

Shirzad, born in London, served as a member of the National Security Council at the White House from March 2003 through August 2006 during George W. Bush’s administration. Further, he joined the company after having a 15-year tenure at Goldman Sachs, where Shirzad led the firm’s government relations.

The recent string of appointments comes in the wake of several listings of cryptocurrencies within the Coinbase Pro offering.

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Source: https://www.financemagnates.com/cryptocurrency/regulation/coinbase-gets-the-official-green-light-of-japans-financial-services-agency/

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