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Japan’s LINE Plans to Launch Crypto Exchange in July, Excludes Japanese, US Traders

Japanese social messaging app LINE will launch a cryptocurrency exchange for 30 coins next month, it revealed Thursday, June 28.

“With the need to trade cryptocurrencies rising around the world, LINE has been preparing to provide opportunities for users to do so securely, and as the secure system is in place now, the company will be offering the service,” the release states.

In a press release, the company, which counts around 200 million monthly users, confirmed it would offer crypto-to-crypto trading platform BITBOX “globally” excluding the U.S. and Japan.

LINE had been in talks with Japanese regulators over launching an exchange. The decision to exclude Japan from BITBOX, which will not handle fiat currency, now appears tied to regulatory difficulties.

Other major names have meanwhile committed to Japan’s domestic exchange market, these including SBI Group and, from 2019, Yahoo!

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