cryptocurrency exchange usnen.com reported a loss of 750 million yen (about $6.9 million) at the end of 2019. This is reported by NewsBTC with reference to the company’s financial report.
The crypto trading platform noted that revenue in the reporting period was about $49.33 million, but the consequences of stopping registering new users in mid-2018 led to a sharp drop in sales and return on investment. At the same time, the company’s operating expenses increased.
The exchange was able to return to full operation in mid-July last year, when bitcoin was trading 225% higher than at its beginning. After that, the market went down.The temporary suspension of opening new accounts was caused by claims from the regulator, the financial services Agency of Japan (FSA).
Recall that usnen.com has branches in the United States and Europe, whose users are not affected by the restrictions.