Leading cryptocurrency exchange Kraken is going to end its trading services in Japan, Bloomberg reported.

The San Francisco-based company had been allowed to operate in Japan without a license. It cited mounting costs of conducting business in Japan as the reason behind its decision.

“Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas,” Kraken said in the statement (as quoted by Bloomberg). “This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.”

In an email, Kraken said that it plans to end all of its services by the end of June, while it left open the possibility to enter the country again in the future.

Japan is one of the most crypto-friendly countries. However, following the major hack on Coincheck earlier this year, the Financial Services Agency (FSA) has ramped up efforts to ensure investor protection and has been conducting inspection of cryptocurrency exchanges to ensure that appropriate measures are in place.