<story><title>Coinbase halts operations in Japan</title><url>https://www.coinbase.com/blog/halting-operations-in-japan</url></story><parent_chain></parent_chain><comment><author>digianarchist</author><text>Previously announced: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;news.bitcoin.com&amp;#x2F;coinbase-shutting-down-most-crypto-services-in-japan-after-series-of-job-cuts-globally&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;news.bitcoin.com&amp;#x2F;coinbase-shutting-down-most-crypto-...&lt;/a&gt;</text></comment>
<story><title>Coinbase halts operations in Japan</title><url>https://www.coinbase.com/blog/halting-operations-in-japan</url></story><parent_chain></parent_chain><comment><author>Danieru</author><text>The context is that the Japanese regulator, FSA (Financial Services Agency) which regulates Banks, Cyrpto, and Brokerages is scary. Notice how Coinbases statement is quick to reassure no Japanese assets have been comingled.&lt;p&gt;Not Americans assets, or anyone else. Coinbase is careful to only mention Japanese assets.&lt;p&gt;The FSA regulated FTX Japan is the only regional FTX moving forward with returning depositor&amp;#x27;s assets. FTX US&amp;#x27;s status is disputed, certainly not issuing a timeline.&lt;p&gt;The collapse of Mt. Gox pushed the FSA to heavily regulate crypto. Of course that means an entity like Coinbase must consider not just the cost of compliance, but also the risk that if they steal customer funds executives can go to jail.  Costs are fine, investors bear that. But clearly Coinbases executives most dislike the whole &amp;quot;FSA will haul you into jail for questioning when you loss customer money&amp;quot; most. Hence this announcement.&lt;p&gt;At this point any exchange avoiding FSA regulation is a giant red flag with bonus red siren.</text></comment>