Bitget will close all remaining positions and exit Japan following regulatory warnings over unregistered crypto services.
Cryptocurrency exchange Bitget will cease operations in Japan and close all remaining positions by December 31. The exchange halted new registrations for Japanese residents and will begin restricting existing accounts on November 1, with forced closures for any open positions at year-end.
The move follows multiple warnings from Japanese regulators, including the Financial Services Agency and the Kanto Local Finance Bureau, for providing unregistered crypto services. Bitget was cited for soliciting over-the-counter derivatives transactions without proper registration, with the latest warning issued in November 2024.
Users classified as Japanese residents must complete Level 2 identification, including address verification, by November 1 to avoid account restrictions. The exchange will contact affected users via email with further instructions on managing assets.