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​Cryptocurrency Trading LINE is licensed to operate in Japan

2019-09-06 10:25 am | Resource: News Section | No Views : 87

​Cryptocurrency Trading LINE is licensed to operate in Japan LVC Corporation, an asset-focused Cryptocurrency Trading and Blockchain company, has acquired the Japanese messaging giant LINE, an operating license for exchange from Japan's Financial Supervisory Authority.
Japanese newspapers interested in the digital currency market published the news on Friday morning, Sept. 6.
As previously reported, LVC Corp. , Called BITMAX, will enable Line's 80 million users in Japan to buy and sell several major Crypto.
According to Japanese websites, the exchange has been authorized by the FSA, trading Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP), on the platform.
According to a recently shared press release, Line has 187 million monthly users, with an estimated 50 million registered users of LINE Pay.
In July 2018, LINE launched BITBOX Cryptocurrency Trading, a global user-centric platform in Singapore - and the backend infrastructure of the platform will be restarted for Japan's FSA-certified BITMAX platform.
Due to the requirements for exchange licensing in Japan - which have been in effect since the amendment of the country's payment services law in April 2017, BITBOX has been unavailable to Japanese merchants.
LINE launched its original currency in late summer 2018, and has since continued to develop a symbolic ecosystem based on the service-linked Blockchain, Link Chain.
The Blockchain network also allows decentralized applications to be applied directly to Line's messaging system.
LINK was listed on BITBOX in October 2018. While previous reports have indicated that BITMAX, too, will support LINK trading, but Japanese newspapers have not yet indicated that the FSA has officially authorized the token in the Crypto list of the upcoming platform.
Last June this year, LINE partnered with US payment company Visa for new blockchain and digital payments solutions.
Cryptocurrency Trading in Japan continues to obtain licenses from the country to operate legally in accordance with regulations previously decided by the state, in order to regulate the market and bring more investment to the country in that area.

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