Japan's crypto exchange releases new shares worth $25 million

DeCurret is one of Japan's major crypto exchanges, and also the one that brought the use of cryptos as a form of payment for transportation. Now, the exchange announced that it has restructured its capital.

The announcement came on April 10th, and it states that DeCurret had rolled out new shares. The shares' total estimated value is at around $25 million. The goal of the move is to provide the exchange with funds needed for improving its service.

DeCurret keeps working on bringing crypto payments to public transport

DeCurret wishes to improve transactions of already supported crypto,s as well as to add new ones. The press release which announced the move called it the "expansion of digital currency and settlement services."

The improvement of transactions, especially for purchasing tickets for public transportation is more important than ever. While the world continues to face coronavirus pandemic, even Japan had to shut down numerous services. However, its public transportation system is still not among them.

The number of busses and trains in the country remains significantly reduced, but it is also still operational. Not only that, but the stations remain packed to capacity every day.

DeCurret is now also looking into on a new crypto payment system for one of its major investors, JR East. The new system that DeCurret wishes to create would allow users to use their Suica payment card. The card itself could be credited by using cryptocurrencies alone.

The use of the card in Japan is huge, and data from March 2019 shows that around 70 million such cards are in use.

Japan is about to see some legal changes regarding crypto

Of course, DeCurret also needs to ensure that the new program will remain regulatory-compliant. The exchange currently operates in the country as a fully-registered and licensed crypto exchange. It even received permission from Japan's financial authority, the FSA.

However, the company might have a few regulatory issues to deal with in the near future. This is due to the fact that Japan is about to change some of its regulations in only a few weeks. The new laws will affect the crypto space, and they will take effect on May 1st.

It is unclear what will the exchange needs to change or how will the legal change impact it. However, some changes will likely be necessary.