[Kraken] Notice Regarding Closure of SMBC Funding Bank Accounts

Just got this Mail

Two things come up to my mind

a) Japan is more strict now regarding liabilities (lost of funds) and Kraken wants to avoid that (sounds like a good possibility)

b) Japan is suddenly less Crypto-Friendly and something has happened which I doesn't know.

For now a) seems more likely to me. Thoughts?

We regret to inform you that due to a variety of circumstances, we will be closing the following SWIFT bank accounts, as well as our domestic JPY funding accounts at SMBC in Japan. Please note that SEPA Euro funding will not be affected. Cryptocurrency funding will continue as usual. (All dates mentioned below are represented in JST)

The Following Funding Accounts will be Closed on March 21st:

USD, EUR, GBP (SWIFT)

Account Name: Payward Japan K.K. Address: 3-11-10 Higashi, Shibuya-ku, Tokyo Bank name: Sumitomo Mitsui Banking Corporation (SMBC) Bank / branch location: 2-4-1 Hamamatsucho, Minato-ku, Tokyo 105-6101, Japan SWIFT code: SMBCJPJT Account number: 6793010727

Domestic JPY

Account name: ﾍﾟｲﾜｰﾄﾞｼﾞｬﾊﾟﾝ(ｶ

Bank name: 三井住友銀行

Branch name: 浜松町支店普通口座

Bank code: 0009

Branch code: 679

Account number: 9602613

Account Closure Schedule

Deposits received by midnight, March 20th, 2018 (Tues.) will be credited to your Kraken account as usual. On and after March 21st 2018, however, any newly received deposits will be returned to the originating bank account.

Withdrawals requested by 12:00 PM on March 27th, 2018 will be processed and sent on March 28th, 2018. USD, EUR, and GBP withdrawals via SWIFT, and domestic JPY withdrawals requested after this time will not be processed, and the funds will be returned to your Kraken account.

While this is a disappointing development, we are dedicating further resources to our banking relationships and the implementation of new funding methods. We will reach out to you again when we have further details to share.

We sincerely apologize for the short notice, but please take care heed the above deadlines in order to minimize inconvenience.

Thank you for your understanding and cooperation.

The Kraken Team

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