Bitcoin Exchange From Japan Opened In Europe

Tokyo-based Bitcoin exchange BitFlyer has started transactions in European area. It has secured the necessary Payment Institution license to run its service across the EU.

Last November the exchange was opened in US. It claims that about $250 billion in virtual currency was traded on its platform during 2017. Financial Times reports that it facilitates about 20-30 percent of all Bitcoin trades globally.

BitFlyer claims it’s the only licensed exchange between Europe and Japan, which allows cross-border Bitcoin trading.

To start, it’ll only allow trading of Bitcoin/Euro pairs and will initially target professional high-volume traders; plans to support other currencies like Ethereumand Litecoin, as well as more fiat currencies, are in the works for the coming months.

The news follows speculation over whether South Korea will close domestic cryptocurrency exchanges; currently, the authorities of the country are raiding those business offices to bring tax payment and is going to shut down those exchanges, which aren’t compatible with legislation. Moreover, China plans to block access from within its borders to foreign exchanges, after it closed domestic exchanges last year. Both moves will affect on the value of Bitcoin, so be prepared for a flood of FUD over the coming days and weeks