The second largest cryptocurrency exchange in the world by trading volume bybit announced that it would suspend new user registrations in Japan from October 31 to adapt to new rules from the country’s Financial Services Agency (FSA).
The company said the move is part of its «proactive approach» to align with Japan’s emerging digital asset regulatory framework.
bybit «We have always strived to operate responsibly and in accordance with local laws and regulations,» the exchange representative said.
Existing customers in Japan will not be affected for now, and all current services will continue to operate. Going forward, the team bybit will provide further updates as discussions with regulators progress.
At this stage, there will be no immediate changes to services available to existing Japanese users. bybit will provide further information if any further measures are introduced in the future, the statement said. bybit.
The crypto exchange has sincerely apologized for the inconvenience caused to its users in Japan, explaining that the pause is necessary so that its team can fully focus on “analyzing local regulatory requirements.”