Japan’s Financial Services Agency (FSA) requested Apple and Google to suspend downloads of five unregistered cryptocurrency exchanges, emphasizing the need for regulatory compliance. The exchanges targeted include Bybit Fintech, MEXC Global, LBank Exchange, KuCoin, and Bitget. Apple complied by removing the apps on February 6, 2025. Although Japan is being more cautious with crypto regulations compared to markets like Hong Kong, experts assert that this measure is not about shutting down crypto investing but ensuring that exchanges adhere to local regulations. Anndy Lian, a blockchain expert, stated that Japan aims to protect investors and maintain market integrity, reflecting its proactive stance on digital asset regulation. This decision follows reform plans for 2025 that will classify crypto assets alongside traditional financial assets. Japan’s stringent regulatory framework seeks to prevent the chaos witnessed during incidents like the Mt. Gox collapse, urging these exchanges to comply to operate within the Japanese market.

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