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Shibainu and Palette Token Now Available for Trading on BitFlyer

BitFlyer, one of the largest domestic cryptocurrency exchanges in Japan, has recently announced that it will begin handling two new tokens, Shibainu (SHIB) and Palette Token (PLT). The announcement came on March 29th, and marks the first time these tokens will be available for trading on the exchange.

Shibainu is a meme-inspired token that has gained significant popularity in recent months, particularly among younger investors. Palette Token, on the other hand, is a utility token designed for use on the Palette blockchain platform.

BitFlyer’s decision to add these tokens to its exchange reflects the growing demand for alternative cryptocurrencies among Japanese investors. The exchange already supports a range of other tokens, including Bitcoin, Ethereum, and Litecoin.

However, in a separate announcement, BitFlyer also stated that it will be terminating its Lightning FX spot payment (cash on delivery/cash on delivery) service on April 28. The exchange provided a three-stage schedule leading up to the service’s end, starting with the notice of termination on March 28th and ending with the actual termination on April 28th.

While the exchange did not provide a reason for ending the service, it is likely that the move is related to the increasing regulatory scrutiny facing the cryptocurrency industry. Governments around the world are tightening regulations on digital assets, and exchanges like BitFlyer are having to adapt to remain compliant.

Overall, these developments suggest that the cryptocurrency landscape in Japan is evolving rapidly, with exchanges like BitFlyer having to navigate a complex regulatory environment while also meeting the demands of an increasingly diverse range of investors. As the industry continues to mature, it will be interesting to see how exchanges like BitFlyer continue to innovate and adapt.

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