Bitget Exits Japan, Closes All Positions by Year-End

The update

Bitget has halted new registrations for Japanese residents and plans to shut down all remaining trading positions by Dec. 31. The exchange will stop providing crypto trading services to residents of Japan, citing compliance efforts with local regulations. Existing users must complete a Level-2 identity verification, including proof of address, by Nov. 1 to avoid having their accounts forcibly classified as Japanese. Accounts that do not meet this deadline will be placed in close-only mode on Nov. 1, restricting all trading activities. Deposits and withdrawals will remain available until the platform fully exits the market.

Why it matters

This exit signals a significant tightening of Japan’s regulatory environment for crypto platforms. Japan recently reclassified cryptocurrencies as financial instruments, introducing stricter oversight and penalties for noncompliance. The move follows earlier warnings from Japanese regulators, including the Financial Services Agency, regarding unregistered foreign platforms. As Japan prepares to enforce these new rules, other exchanges operating without registration may face similar pressures to exit the market.

What to watch

Regulatory authorities may issue further guidance on how to handle existing users of unregistered platforms. The extent to which other major exchanges follow Bitget’s exit will be a key indicator of Japan’s regulatory stance. Users are advised to verify their residency status and complete required identity checks before the Nov. 1 deadline to avoid service interruptions.

Sources

• coindesk.com — Timeline of account restrictions, Nov. 1 verification deadline, and Dec. 31 closure plan.
• cointelegraph.com — Regulatory context, including warnings from the Financial Services Agency and Kanto Local Finance Bureau.