Japanese e-commerce mining center closed after drop in market value

cryptocurrencies

Through a statement recently issued by ‘Toyo Keizai’ revealed that the major Japanese e-commerce firm ‘DMM Ltd.’ plans to close soon its services of cryptocoins, this due to the continued fall that have presented the cryptocoins in which their profits have been seriously affected.

The information coming from the official web portal of the conglomerate of companies, states that the suspension decision was announced in mid 2018, although the company will realise the dismantling process in the following months; on the other hand, announcement that the services will be extended until the first half of 2019, according to estimates that have.

The renowned company DMM.com opened its doors in the market of crypto-mining operations in September 2017, offering services in major virtual currencies such as Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH).

The company had planned the month of April this year to hold an exhibition event to promote its main mining operations, allowing the public to acquire more than 1,000 mining equipment; however, the company changed its decision in view of the growing concern over the constant threats of theft or hacking.

On the other hand, the DMM directive had recently confirmed the launch of an application to exchange digital coins, which would be called ‘CoinTap’; but, because of the alerts raised by the hacking of the exchange ‘Coincheck’ in June 2018, it is believed that it is possible that this project will not reach the market.

DMM in relation to its exchange house Have not yet confirmed whether operations will cease in the near future, which debuted last January, but it is expected that this exchange house will be affected by the measures that the company has taken in recent days.

Asian countries such as China, South Korea and Japan have been the main players in the decentralized international industry, although the measures taken the previous year created the conditions for migration of several companies working in the sector of cryptocurrencies, as is the case of exchange Huobi Pro, closing its operations for Japanese residents in July 2018.

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