Affected by the drops in Bitcoin, the stock market has decided to leave this country!

Crypto winter in 2022 Bitcoin (BTC) including all cryptocurrencies caused declines.

Apart from crypto currency prices, crypto platforms were also negatively affected. Because many important exchanges and companies of the crypto industry went bankrupt.

The leading cryptocurrency exchange affected by the crypto winter Kraken He made a radical decision and decided to stop his activities in Japan for the second time.

Announcing its decision in a blog post published today, Kraken cited “the weakness of the crypto market” as the reason for leaving Japan.

Deciding to cease operations in Japan, Kraken said it has decided to deregister from the Financial Services Agency by January 31, 2023.

Stating that their decision to leave Japan is part of their efforts to prioritize resources and investments, Kraken made the following statements in its statement:

“Current market conditions in Japan, combined with a weak crypto market globally, mean that the resources needed to further grow our business in Japan are currently not justified.”

Emphasizing that this decision to leave should not mean that they are on the verge of bankruptcy, Kraken stated that they have sufficient cash to ensure that all affected customers can withdraw their assets on time.

of users crypto- Stating that they can withdraw their money to an external wallet or convert their portfolio to Japanese Yen, Kraken also said that users can transfer their money to a local bank account.

Kraken finally added that deposits will be disabled on January 9, but trading functions will remain.