Japan’s Financial Services Agency (FSA) has issued a directive to Apple and Google, requiring the removal of five unregistered overseas cryptocurrency exchanges from their respective app stores within the country. The affected platforms include Bybit, MEXC Global, LBank Exchange, KuCoin, and Bitget. Source

Why the Japan Crypto Exchange Ban Was Enforced

The regulatory action was taken under the Payment Services Act, as these exchanges failed to comply with Japan’s stringent financial regulations. The FSA, in its official statement, emphasized that operating without proper registration violates national laws designed to protect consumers and ensure financial stability.

According to a report by Nikkei, Apple has already taken steps to comply with the directive, removing the apps from its Japanese App Store on Thursday. Meanwhile, Google has yet to implement similar measures. However, the restriction will only apply to new downloads, meaning existing users who have already installed the apps will still be able to access them.

Impact of the Japan Crypto Exchange Ban on Investors and Traders

Japan has long maintained a firm stance on cryptocurrency regulations, aiming to create a secure and transparent digital asset ecosystem. The latest enforcement action underscores the FSA’s commitment to curbing unauthorized financial operations and ensuring compliance with legal requirements.

Industry analysts suggest that this move may signal a broader crackdown on unregistered exchanges operating in Japan, reinforcing the importance of regulatory adherence for crypto service providers looking to operate in the region.

For further details on this regulatory action, visit the official website of Japan’s Financial Services Agency or consult legal experts specializing in Japan’s financial laws.