One of the biggest crypto exchanges has announced that they will stop their activity on the territory of Japan. According to Bloomberg the main reason for such decision is expensive business deals for such exchanges in the country. Kraken said that they will stop all the transactions for Japanese clients and residents of Japan by the end of June. Although the company doesn’t exclude the possibility of their comeback to Japan if the circumstance changes.

“Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas. This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.” – company’s statement said.

According to Bloomberg Kraken started their activity in Japan in 2014. Kraken takes 10^th place in the world by crypto trade exchanges – in the last 24 hours it was $179.8 million.