Bitget is pulling out of Japan and will shut down all accounts with Japanese residents by the end of 2026. Starting August 3, the exchange will block new registrations from anyone identified as a Japanese resident. Then, on November 1, those accounts will switch to "close-only" mode, allowing users to sell assets but not make new purchases.
The final deadline is December 31, 2026. Any open positions left after that date will be forcibly liquidated, with no exceptions. Bitget urges its Japanese users to withdraw their funds promptly and recommends completing Level 2 KYC verification before November to possibly avoid automatic classification as a Japanese resident under the new rules.
Regulatory challenges drive Bitget’s exit
Japan’s Financial Services Agency (FSA) warned Bitget in November 2024 for operating without registration in one of Asia’s strictest crypto markets. The FSA demands that exchanges serving Japanese customers undergo a rigorous registration process, including capital reserves and continuous oversight. Bitget, based in Seychelles, decided the hurdles weren’t worth it and opted to exit rather than comply.
This isn’t unique to Bitget. The FSA has flagged other unregistered exchanges like Bybit, KuCoin, and MEXC. Japan’s strict approach stems from past high-profile incidents like the Mt. Gox collapse and Coincheck hack, pushing regulators to tighten controls and anticipate more stringent digital asset classifications by 2026.
Bitget’s withdrawal highlights how regulatory pressures continue reshaping the space in Asia’s largest economies.
Material is for informational purposes only and not financial advice.
