Crypto exchange Bitget will stop new registrations from Japanese users and force-close remaining positions by December 31, 2026, after accounts flagged as Japanese must complete residency verification by November 1, 2026 under Japan’s Payment Services Act requiring FSA registration. The exit follows FSA enforcement actions (including app removal) and coincides with yen turmoil near 164 per dollar and a rare US-Japan intervention that reportedly cost tens of billions, a combination that raises compliance and treasury costs for offshore exchanges and risks reduced liquidity and adoption in Japan.

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In Brief

Bitget will stop accepting new registrations from Japanese users and close remaining positions by December 31, 2026.
Japan requires registration with the Financial Services Agency under the Payment Services Act.
The exit coincides with the yen sliding toward a 40-year low and a rare joint intervention by Tokyo and Washington.

Crypto exchange Bitget will stop accepting new registrations from Japanese users, announcing a phased exit that culminates in forced position closures by December 31, 2026.

The withdrawal comes as Japan tightens its licensing regime and grapples with severe currency turbulence.

The Timeline Japanese Users Now Face

The announcement, dated August 3, sets a clear timeline. Accounts flagged as potentially Japanese must complete that verification by November 1, 2026. Failure triggers restrictions. Users who miss the deadline face phased limitations from that date, with any remaining open positions forcibly closed by the end of December.

The exchange will email withdrawal instructions to affected users, framing the decision as part of its ongoing commitment to regulatory compliance.

The regulatory backdrop explains the move. Japan requires crypto service providers serving local residents to register with the Financial Services Agency under the Payment Services Act.

【日本居住者の皆様への大切なお知らせ】平素よりBitgetをご利用いただき、誠にありがとうございます。日本におけるコンプライアンス遵守及び関連する制度を総合的に踏まえ、日本居住者の皆様へのサービス提供を終了し、アカウントの制限を段階的に実施させていただくことが決定いたしました。…
— Bitget 【ビットゲット】🌏✨ (@BitgetJP) August 3, 2026

Enforcement risk is real for unregistered platforms. The agency issued warnings to Bitget and other overseas exchanges in November 2024. Consequences followed. Bitget’s app was later removed from Japan’s App Store, though web and Android access remained available to existing users.

Few jurisdictions demand more. Providers must meet capital, custody, consumer-protection, and anti-money-laundering standards to operate legally.

How Japan’s Yen Turmoil Compounds the Regulatory Burden

The timing coincides with acute currency pressure. The yen slid toward a 40-year low near 164 per dollar in late July, driven by rate differentials and carry-trade activity. Japan responded aggressively, with estimates suggesting authorities spent tens of billions of dollars buying yen to halt the decline.

“They have a weakening yen, and they wanted a little bit of help. And we’re always there for Japan,” US President Donald Trump told reporters on Sunday.

Washington then joined the effort. Both countries conducted a rare coordinated intervention, the first in 15 years, targeting excessive volatility and disorderly movements. The response was immediate, with the yen rebounding sharply and briefly reaching 155 per dollar.

JAPAN JUST SPENT BILLIONS DEFENDING THE YEN.Last Thursday the yen ripped higher in one of the biggest single day moves in years.USD/JPY went from near 164 to the high 150s in hours.Biggest daily move since 2022.Soft US data and a weaker dollar after the Fed set the stage.… pic.twitter.com/pZ8LP8H6OV
— The Assembly (@InTheAssembly) August 3, 2026

Officials signaled more could follow. Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent confirmed the operation and indicated readiness for further action.

The two pressures compound each other. Strict licensing raises fixed costs, while currency volatility complicates pricing and treasury management for offshore operators.

Bitget’s exit illustrates a broader pattern. Platforms must either invest heavily in registration or leave markets where regulatory barriers make operations uneconomical.

Japanese users still have room to act, with the transition window running until year-end before restrictions take full effect.

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Read the article at BeInCrypto