Tokyo cryptocurrency exchange BitFlyer has received the license of the payment institution to operate in the European Union that became known on Monday , January 22.
The license was granted to the stock exchange regulator of the Luxembourg Commission for the supervision of the financial sector (CSSF).
BitFlyer, which was released to the US market in the fall of 2017, works in Japan under a license granted by the financial services Agency (FSA).
Yuzo Kano, founder and CEO of BitFlyer, said in a press release :
“I am proud that we are now the most acceptable for regulators cryptocurrency exchange in the world; this coveted status allows our customers and our company to be optimistic about the future of the industry of cryptocurrency “.
The company will initially offer only the trading pair BTC / EUR, other cryptocurrencies, such as Litecoin , Ethereum , Ethereum and Bitcoin Cash Classic, will be added to the platform BitFlyer Europe by the end of this year.
According to CoinMarketCap, BitFlyer 14th in the list of the largest cryptocurrency exchanges in the world, and its 24-hour trading volume of $300 million.
Countries worldwide are struggling to decide how to regulate cryptocurrencies. Methods also differ in several US States entered the license to operate the exchanges within the regulatory framework, while China closed absolutely all cryptocurrency exchanges.
Japan is one of the few countries that officially recognize Bitcoin (BTC) and other cryptocurrencies as the den , which allowed major Japanese banks are comfortable to invest a large sum of money in BitFlyer.
The head of Germany’s Central Bank believes that the regulation, which for many is an anathema, given the decentralized nature of cryptocurrencies, will only work on a global scale .
Thus BitFlyer is the only licensed stock exchange in Europe, offering traders access to one of the world’s largest cryptocurrency resources – Japan.