In response to a directive from Japan’s Financial Services Agency (FSA), Apple has removed the apps of several major cryptocurrency exchanges from the App Store in Japan. The exchanges affected include Bybit (Dubai), MEXC Global (Singapore), LBank Exchange, KuCoin (Seychelles), and Bitget (Singapore), all of which were not registered to operate within Japan.
The FSA’s request, which was issued last week, resulted in the removal of these apps from the App Store on February 6, 2025. While Japan has been more cautious than other Asian nations about cryptocurrency regulations, this action underscores the country’s vigilance toward the risks associated with unregistered crypto platforms.
Despite Japan’s more conservative approach, with regulators cautious about the potential risks of the crypto market, Hong Kong has taken a more progressive stance by approving Bitcoin and Ethereum ETFs. However, experts suggest that blocking the download of these unregistered exchange apps is not an indication of an aggressive crackdown on retail crypto trading.
The FSA had previously warned these exchanges for operating without the necessary registration in Japan. However, not all unregistered exchanges are facing the same action. Apps such as Crypto.com and CoinEx, which are also unlicensed, are still available in Japan for search under terms like “crypto assets” and “virtual currency.”
Bybit confirmed on February 6 that its app had been removed from the App Store but reassured users that those who already have the app installed would not be affected and could continue using it as usual.
The timing of the FSA’s actions is noteworthy, coming just weeks after the agency called for stricter audits and enhanced oversight of cryptocurrency exchanges in the country. However, no official statements have been issued by Japanese authorities regarding the matter at this time.
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