LVC, the blockchain and cryptocurrency business arm of Internet portal Naver’s Japanese subsidiary Line, got a license to deal in cryptocurrency exchange and became a member of the Japanese cryptocurrency exchange association.
Line has yet to announce the name of the exchange. Line would also list its cryptocurrency Link on its exchange to open soon.
The Line’s exchange is subject to supervision of Japan’s financial regulators. Unlike Korea, Japan issues licenses to the cryptocurrency exchanges and subject them to financial oversight.
South Korea blacklisted cryptocurrency exchanges and South Korean exchanges are not subject to regulatory supervision.
As a way of bypassing Korea’s tight restriction, South Korea’s largest Internet portal Naver has opened a subsidiary in Japan to start cryptocurrency business.
