RedotPay Acquires BTCBOX and Suspends Services in Japan

RedotPay has acquired the Japanese cryptocurrency exchange BTCBOX and plans to provide services compliant with Japanese regulations through BTCBOX. RedotPay has not obtained a license for cryptocurrency exchange operators in Japan and acknowledges that its existing services for Japanese residents do not meet local regulatory requirements. It will gradually restrict and ultimately terminate these services. RedotPay has suspended new user registrations in Japan and removed the app from the Apple and Google app stores in the region. BTCBOX was established in 2014 and obtained its registration as an exchange operator in September 2017. After a customer information leak in January this year, BTCBOX suspended all services and began a phased recovery starting August 3. RedotPay stated that it will provide funding and technical support to BTCBOX.

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