Japan’s FSA requested Apple and Google to remove five crypto exchanges from its app stores. The FSA claims that these exchanges are unregistered and did not meet compliance despite past warnings.

The businesses in question are KuCoin, Bybit, Bitget, MEXC Global, and LBank Exchange. Several of them had been trying to reach compliance in other jurisdictions.

Japan Bans Five Exchanges

According to local reports, Japan’s Financial Services Agency (FSA) has asked Apple and Google to block downloads for five crypto exchanges.

Specifically, the FSA targeted KuCoin, Bybit, Bitget, MEXC Global, and LBank Exchange. As BeInCrypto reported earlier, the regulator previously warned these businesses about failing to comply with registration requirements. It seems these warnings went unheeded.

Despite this crackdown on unregistered exchanges, Japan has actually made several recent overtures to the crypto industry. For example, the FSA began reviewing crypto tax laws last year in an attempt to lower them.

Lawmakers have also started advocating for a Bitcoin Reserve, and some ETF issuers believe a Bitcoin ETF is nearing approval.

Despite the positive momentum, the regulator cannot ignore flagrant violations like these exchanges were committing. It seems that none of the firms in question made any attempt to reach compliance since the warning in September.

Only Bybit has released a statement, and it seems to ignore the pr

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Author: Landon Manning

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