Dec 24th, Panama – In a recent statement from a cryptocurrency exchange service, Gate.io, alongside Japan's Financial Services Agency (FSA), it was revealed that Gate Group has effectively taken control of the entire shareholding of Coin Master Co., Ltd., a firm providing cryptocurrency services in Japan. This move was orchestrated through Gate Japan K.K. (Gate Japan), a Singaporean subsidiary under the stewardship of CEO Lin Han, which is affiliated with Gate Group. Now, Coin Master Co., Ltd. will be officially rebranded as 'Gate Japan K.K.' ('Gate Japan'), signifying an important stride in Gate Group’s foray into the Japanese market.
Gate.io An announcement made on July 22, 2024, stated that Gate.io would stop opening new accounts for Japanese residents and would gradually reduce its global services for this user base. This tactical decision complies with Gate.io’s dedication to adhere to local legal standards in Japan. Within this framework, Gate Group has acquired Coin Master Co., Ltd. with intentions to launch a digital asset trading platform that aligns with regional regulations, thereby reinforcing its dedication to Japanese clients and fortifying its business presence in Japan.
With the continuous growth of the digital asset industry, Japan, recognized as one of the foremost global economies, is progressively refining its rules for the sector. Commitment to Japanese regulatory demands is a priority for Gate Group, ensuring transparency and compliance across its platform operations. The group is devoted to fostering the healthy evolution of the worldwide digital assets industry while meeting the local legal mandates. With this acquisition, Gate Japan Co., Ltd. is poised to provide more innovative products and superior services to local users, while utilizing Gate Group's technological strengths and resources from the global market to enhance Japanese customers' digital asset trading experience.
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