
Japan’s Financial Services Agency (FSA) has asked Apple and Google to suspend downloads of five unregistered crypto exchanges, reinforcing regulatory compliance.
Author: Tanishq Bodh
Japan’s Financial Services Agency (FSA) has asked Apple and Google to suspend downloads of five unregistered cryptocurrency exchanges, reinforcing its strict regulatory stance on digital asset trading in the country. The move affects major centralized exchanges (CEXs), including Bybit Fintech, MEXC Global, LBank Exchange, KuCoin, and Bitget.
The FSA clarified that the action is not aimed at shutting down crypto investing but rather at enforcing compliance among exchanges operating in Japan. The regulator emphasized the need to draw a clear regulatory line to protect investors and ensure market stability.
According to a Feb. 7 report by Nikkei, Apple acted swiftly on the FSA’s request, removing the apps from its App Store on Feb. 6, preventing Japanese users from downloading them. Google’s response to the request has not yet been disclosed.
Unlike Hong Kong, which has approved Bitcoin (BTC) and Ethereum (ETH) spot ETFs, Japan remains wary of crypto market volatility and the risks associated with digital assets. This latest move underscores the country’s commitment to regulatory oversight, ensuring only compliant exchanges operate within its jurisdiction.
Industry experts believe the FSA’s actions do not signal a broad crackdown on retail crypto investing but rather a push to ensure exchanges meet regulatory standards before offering services in Japan.
While the affected exchanges have yet to comment publicly, this regulatory intervention reinforces Japan’s strict oversight of cryptocurrency platforms, signaling that compliance is non-negotiable for firms looking to operate in the country.
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.