Japan FSA warns four exchanges to cease operating without licensing

2023-4-3 15:00

The Japan Financial Services Agency (FSA) has warned four cryptocurrency exchanges — including ByBit, BitGet, MEXC Global, and Bitforex — to cease offering service to country residents until they obtain the right licenses.

According to the notice, the exchanges must register in the country before conducting their operations.

Meanwhile, this is not the first time the financial regulator will warn ByBit about its operations in the country. It issued a similar notice in 2021. Regulators in the UK and Canada have also warned ByBit from operating in the country without registration.

Japan is one of the leading countries when it comes to crypto regulations. Since introducing requirements for registration and licensing for crypto exchanges in 2020, it has been cracking down on unregistered exchanges. ByBit could face legal action and fines in the country if it does not heed the warning.

Meanwhile, the country’s authorities are calling on the EU and the U.S. to regulate crypto the same way banks are regulated.

The deputy director-general of the FSA Strategy Development and Management Bureau, Mamoru Yanase, said:

“Crypto has become this big. If you like to implement effective regulation, you have to do the same as you regulate and supervise traditional institutions.”

The call for more scrutiny and regulation follows on from the FTX and Terra UST collapses.

The post Japan FSA warns four exchanges to cease operating without licensing appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

4THPILLAR TECHNOLOGIES (FOUR) на Currencies.ru

$ 0.0010367 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.03 %
Cегодня L: $0.0010367 - H: $0.0010367
Капитализация $131.555k Rank 99999
Цена в час новости $ 0.0034973 (-70.36%)

japan exchanges cease fsa four service offering

japan exchanges → Результатов: 126


Japan, Portugal Approve New Cryptocurrency Exchanges

Japan and Portugal announce approval of new cryptocurrency exchanges in the nations. Portugal has approved two exchanges so far, while Japan has allowed Coinbase to function within the country. Japan Approves Coinbase Coinbase can finally start operations in Japan as the country’s top financial regulator has approved the organization within the nation. As of this […]

2021-6-24 22:16


Фото:

Japan Approves Self-Regulation of Cryptocurrency Exchanges

On Wednesday, Oct. 19, Japan’s Financial Services Agency granted the cryptocurrency industry the authority to self-regulate. The approval means that the Japan Virtual Currency Exchange Association, a coalition of several registered digital currency exchanges, can now set rules for operational requirements, consumer protection, prevention of money laundering and employee ethics.

2018-10-25 06:55


Six People Paid by Korean Exchange Upbit for Reporting Fraudulent Crypto Schemes

A major South Korean exchange, Upbit, has paid six people for reporting fraudulent crypto-related schemes. Japan Confirms Entrance Into the Crypto Space Upbit Paid Users for Reporting Fraud One of South Korea’s largest cryptocurrency exchanges, the Kakao Corp-backed Upbit, has paid six individuals for reporting fraudulent crypto-related schemes. The exchange implemented a bounty system in

2018-6-12 05:26