Bitget Exits Japan Amid Regulatory Warnings

Crypto exchange Bitget has announced that it will exit Japan and close its remaining positions by December 31. The decision follows several warnings from Japanese regulators, including a warning in March 2023 and again in November 2024 for allegedly providing crypto services to residents of Japan without registration.

The exchange has already stopped accepting new registrations from residents of Japan and will begin phasing out account restrictions on November 1. Users who believe they have been incorrectly classified as residents of Japan must complete 'Level 2' identification, which includes address verification, by November 1 to avoid having their accounts classified as belonging to residents of Japan.

The exchange has warned that any positions still open on December 31 will be forcibly closed. Users who are affected will receive further instructions via email about the required procedures and how to manage their assets.