Phased Shutdown With Year-End Deadline @Bitget, the Seychelles-registered crypto exchange currently ranked fifth-largest on CoinGecko, is withdrawing from the Japanese market. The exchange pu
@Bitget, the Seychelles-registered crypto exchange currently ranked fifth-largest on CoinGecko, is withdrawing from the Japanese market. The exchange published its exit notice on August 3, 2026, immediately stopping new account registrations from users based in Japan.
Existing accounts identified as belonging to Japanese residents will enter a close-only period beginning November 1, 2026, at 11 a.m. Japan Standard Time.During that period, users will be permitted to sell assets but will not be able to open new positions or make new purchases.From December 31, remaining open positions across all Bitget products will be forcibly closed and card services suspended, though cryptocurrency withdrawals will continue to be available after the deadline.
Existing users flagged as potential Japanese residents have until November 1 to complete Level 2 identity verification, including proof of address, to demonstrate they are not subject to the restriction. Those who fail to verify by that deadline will be automatically classified as Japan-based residents.Bitget said it will provide account-specific withdrawal instructions to affected users by email.
The exit was not unexpected. Japan's Financial Services Agency warned Bitget in March 2023 and again in November 2024 for allegedly providing crypto services to residents of Japan without registration.In June 2025, the Kanto Local Finance Bureau also warned BTG Technology Holdings Limited, which it said provided services under the Bitget name, for soliciting online over-the-counter derivatives transactions without registration.
Japan requires crypto-asset exchange service providers serving domestic users to register under the Payment Services Act.Any business offering virtual asset exchange, custody, or transfer services to Japanese users must obtain a Crypto Asset Exchange Service Provider (CAESP) registration from the FSA, and failure to do so exposes operators to criminal liability and forced cessation.Rather than endure that complex registration process, Bitget has opted for a clean exit.
The move comes as Japan tightens oversight of unregistered foreign crypto platforms and prepares to enforce new rules treating cryptocurrencies as financial instruments with steep penalties for noncompliance. Bitget is not alone in facing this pressure. The FSA's earlier warnings also encompassed other exchanges including Bybit, KuCoin, and MEXC, which similarly lack local registration.
Bitget described the move as part of its "ongoing commitment to regulatory compliance" but did not identify a specific regulatory change or FSA action that triggered the decision.
Sources:CoinTelegraph: Bitget to Exit Japan and Restrict Resident AccountsCoinDesk: Bitget notifies users of end to crypto trading services in JapanDailyCoin: Bitget Withdraws From Japan as Crypto Regulation Tightens
