Crypto exchange Bybit to restrict access for Japanese users as regulatory pressure mounts
NegativeCryptocurrency
- Crypto exchange Bybit has announced it will restrict access for users based in Japan, a decision influenced by increasing regulatory pressures in the Japanese cryptocurrency market. This move follows Bybit's recent return to the U.K. market, highlighting the challenges the exchange faces in navigating diverse regulatory environments.
- The restriction on Japanese users signifies a significant operational shift for Bybit, potentially impacting its user base and market presence in a region that is becoming increasingly stringent in its cryptocurrency regulations.
- This development reflects a broader trend in Japan, where the Financial Services Agency is moving to enforce stricter regulations, including the transition from payments law to securities law, which may lead to heightened scrutiny of exchanges and increased consumer protection measures.
— via World Pulse Now AI Editorial System
