LINE could get approval for BitMax cryptocurrency exchange

Japan’s LINE could soon get the go ahead to start operations for its cryptocurrency exchange, BitMax.

According to a report by CoinDesk, LINE is close to winning a crypto exchange license from the Japanese Financial Services Agency (FSA), which could issue the approval as early as this month.

LINE’s BitMax will be launching to target over 80 million of its customers and users.

In March, the FSA granted a license to cryptocurrency exchange Rakuten Wallet, which was rebranded from a bitcoin exchange called Everybody’s Bitcoin Inc that was acquired by Japan’s e-commerce giant Rakuten in 2018.