Japanese Bitcoin Exchange bitFlyer Obtains Approval to Launch in US

Leading Japanese Bitcoin exchange bitFlyer today said that it has received regulatory approval to operate in the United States, and according to the company, this license applies to 34 states. The exchange revealed that it will launch its US-based Bitcoin exchange by the fall of 2017 and that it has already opened an office in San Francisco.

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bitFlyer is pushing towards a more global approach specific to Bitcoin and other digital currencies. This move is part of an effort to expand outside of Japan. Part of this growing interest can be attributed to the supportive approach of Japanese officials towards Bitcoin.

At launch, the exchange will only offer BTC/USD trading but plans to add support for other cryptocurrency trading pairs and products in the near future.

It’s not clear what type of authorization has been granted to bitFlyer, but most Bitcoin operators in the US work under ordinary money transmitter licenses.

The news follows other, similar stories of progress for Bitcoin companies in the US. Although cryptocurrency Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term still happens largely on a state-by-state basis, the commodities regulator (CFTC) recently granted Ledgerx the status of a Swap Execution Facility (SEF).

bitFlyer was founded in 2014 by former Goldman Sachs trader Yuzo Kano in a bid to fill the vacuum left in Japan by the collapse of MtGox.

bitFlyer CEO Yuzo Kano commented: “While bitFlyer, Inc. is headquartered in Japan, my vision was always to create a global company, and I am excited that the US will be its first step toward global expansion. Bitcoin is a global currency, now our exchange will be global too.”

bitFlyer COO Bartek Ringwelski added: “There is a concept of ‘Mrs. Watanabe’ in the Japanese Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term market; she is the personification of household trading in Japan. bitFlyer aims to be the first exchange to allow US Bitcoin traders to trade with Mrs. Watanabe.”