Bybit Halts New User Registrations in Japan
The world’s second-largest cryptocurrency exchange by trading volume, Bybit, announced that starting October 31, it will suspend new user registrations in Japan to align with new regulations introduced by the country’s Financial Services Agency (FSA).
The company stated that this move is part of its “proactive approach” to comply with Japan’s evolving regulatory framework for digital assets.
“Bybit has always aimed to operate responsibly and in accordance with local laws and regulatory requirements,” a Bybit representative said.
Existing customers in Japan will not be affected, and all current services will continue as usual. The Bybit team will provide further updates as discussions with regulators progress.
“At this stage, there will be no immediate changes to the services available to existing users in Japan. Bybit will share additional information should any further measures be implemented,” the statement added.
The crypto exchange apologized to its Japanese users for any inconvenience caused, explaining that this pause is necessary for the team to focus on analyzing local regulatory requirements in full.
See also: "Stablecoin Reserves on Binance Reach a Record High Above $45 Billion"
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