Bitget Exits Japan Amid Regulatory Warnings

Crypto exchange Bitget has announced its decision to exit Japan and close remaining positions. The move follows several warnings from Japanese regulators, including a warning in March 2023 from the Financial Services Agency (FSA) for allegedly providing crypto services without registration.

Bitget will stop accepting new registrations from residents of Japan, while account restrictions will begin on November 1st. Any positions still open on December 31st will be forcibly closed.

The exchange has also stated that users who believe they have been incorrectly classified as residents of Japan must complete Level 2 identification by November 1st, which includes address verification. Failure to do so will result in their accounts being classified as belonging to residents of Japan.