Japan’s Financial Services Agency (FSA) has formally requested Apple and Google to remove five unregistered overseas cryptocurrency exchanges—Bybit (you might have seen in on RedBull F1 car), MEXC Global, LBank Exchange, KuCoin, and Bitget—from their app stores in Japan.
Japan’s regulator is using app store rules to enforce crypto laws for the first time, as reported by Nikkei on Feb 8, 2025.
The FSA issued warnings under Japan’s Payment Services Act, which mandates crypto exchanges to register domestically. Apple removed the apps from its Japanese iOS App Store on February 6, while Google has yet to respond.
Existing app users can continue accessing the platforms, but new downloads are blocked, similar to what TikTok has been facing in the US.
Bitget confirmed its app’s removal and stated it is collaborating with regulators to resolve compliance issues. The other exchanges did not comment.
Since 2017, Japan has required crypto exchanges to register, tightening rules after the $500M Mt. Gox hack. Registered platforms must follow AML rules, hold capital reserves, and protect users. Many unregistered exchanges operate across borders to dodge these rules. The FSA first warned them in 2018 but is now cracking down as crypto trading grows.
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