Bitget Shuts Down Japanese Operations Amid Regulatory Pressure
Bitget, a top-five crypto exchange by trading volume on CoinGecko, is shutting down its operations in Japan. The platform has already suspended new user registration from the country and will restrict existing accounts starting November 1. Users classified as Japanese residents will not be able to open or expand positions, nor access features such as futures trading, copy trading, automated bots, or yield products.
Deposits, within certain limits, and withdrawals will remain available. However, positions still open as of December 31 will be forcibly closed by the platform, and card services will be suspended on that same date.
The exit from Japan is not a surprise, given the exchange's history with Japanese regulators. The Financial Services Agency of Japan (FSA) warned Bitget in March 2023 and November 2024 for operating without mandatory registration required by local fund settlement laws.