Hassan Maishera
TL;DR
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Bybit will restrict access to its services for Japanese residents starting in 2026.
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The move is to enable the crypto exchange to comply with the country's financial regulations.
Bybit Restricts Access for Japanese Users
Bybit, the second-largest cryptocurrency exchange by trading volume, has announced its decision to begin restricting access to its services for residents of Japan next year. This is part of its effort to comply with the country’s financial regulations.
The cryptocurrency exchange did not specify which services would be affected. However, it added that the affected users will receive further communication as the restrictions roll out.
This latest development comes as Japan has very strict cryptocurrency regulations. Crypto exchanges operating in the country will need to register with the Financial Services Agency (FSA) and follow rules on customer protection, asset segregation, and anti-money laundering.
Per the regulations, exchanges that fail to meet the standards are forced to exit the Japanese market. The FSA is also planning on requiring local crypto exchanges to maintain liability reserves to protect users from hacks and other operational failures.
This latest development comes a few days after the crypto exchange announced its return to the U.K., roughly two years after exiting the market following stricter crypto marketing and promotion rules that forced the exchange out of that country.
In September, Bybit resumed full crypto trading operations in India after paying a $1 million fine and registering with the country’s financial watchdog.
Despite its challenges in Japan, Bybit continues to expand its operations in Asia. Last month, reports emerged that Bybit is currently in talks to acquire the South Korean cryptocurrency exchange Korbit.
