TechFlow News, June 24: According to Nikkei, Japanese cryptocurrency automatic profit-and-loss calculation service provider Pafin will acquire mid-tier industry player Gtax, with plans to complete the integration of service brands by October.
The report notes that this move coincides with Japan’s revision of the Financial Instruments and Exchange Act, which for the first time classifies cryptocurrencies under the regulatory framework for financial instruments—spurring increased industry consolidation efforts focused on scale expansion. Pafin’s “Cryptact” primarily provides automated profit-and-loss calculation services for cryptocurrency transactions.
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