Bitget Exits Japan Amid Regulatory Clampdown and Yen Turmoil

Crypto exchange Bitget has announced its withdrawal from Japan due to tightening regulatory requirements and currency turmoil. The decision comes as Japan strengthens its licensing regime for crypto service providers, which must register with the Financial Services Agency under the Payment Services Act.

The timeline for affected users is clear: accounts flagged as potentially Japanese must complete verification by November 1, 2026. Failure to do so will trigger restrictions, and users who miss the deadline face phased limitations from that date. Any remaining open positions will be forcibly closed by December 31, 2026.

The regulatory backdrop explains Bitget's move: enforcement risk is real for unregistered platforms, as seen in November 2024 when the agency issued warnings to Bitget and other overseas exchanges. Consequences followed, with Bitget's app removed from Japan's App Store, although web and Android access remained available to existing users.

The yen's recent sharp decline, which saw it reach a 40-year low near 164 per dollar in late July, has compounded the regulatory burden. The Japanese government responded aggressively, spending tens of billions of dollars buying yen to halt the decline, with officials signaling more action may follow.