Portugal and Japan have approved the establishment of new bitcoin exchanges in their respective countries.
So far, Portugal has endorsed two exchanges, and Japan granted Coinbase permission to operate within the country.
Coinbase is approved in Japan
Coinbase can now begin operations in the Japanese territory, as the country’s leading financial regulatory agency has given the company approval.
Coinbase currently supports five digital assets for trading as of this clearance. Bitcoin (BTC), Ethereum (ETH), Steller Luman (XLM), Litecoin (LTC), and Bitcoin Cash (BCH) are among them.
Coinbase’s new Japanese company was licensed by the Financial Services Agency (FSA) under the new Fund Settlement Act.
Since 2018, obtaining Japanese clearance has been a top priority for Coinbase. The approach entailed the corporation working in partnership with the FSA to ensure compliance with all rules.
Coinbase became a second-class member of the Japan Virtual and Crypto Exchange Association (JVCEA) in 2018. Their membership has been raised to first-class since they have received clearance from the Financial Services Agency.
Two crypto exchanges have been approved in Portugal
The central bank of Portugal, Banco de Portugal, has granted Criptoloja and Mind the Coin permission to operate as crypto exchanges.
Criptoloja is the pioneer company based entirely in Portugal to offer consumers the ability to sell and purchase BTC and other cryptocurrencies. The headquarters of the organization are in Lisbon, which is the country’s capital.
Bitcoin, Monero, and Litecoin will all be available for trading on Mind the Coin.
The central bank is in charge of registering VASPs – Virtual Asset Service Providers and ensuring that they comply with anti-terrorist financing and anti-money laundering regulations.
All organizations wishing to apply as crypto exchanges must obtain their approval under this law. Organizations that provide wallet services and crypto transactions should also register with them.
The Price of Bitcoin and Other Information
According to reports, banks in South Africa are restricting foreign cryptocurrency exchanges, in contrast to what other countries are doing with the acceptance of crypto services.
When using credit and debit cards on crypto exchanges like Binance, users are getting problem notifications.
The price of Bitcoin is hovering around $33,000 as the crypto recovers from a drop below $30,000. It has gained 0.8 percent as of this writing, but it’s down over 14 percent in the last week.
After yesterday’s fall to $29k, BTC appears to be on the rise. However, it’s difficult to predict whether the trend will continue or if it will reverse.