Crypto Exchange Gate.io Exits Japan
Summary
Crypto exchange Gate.io has ceased its operations in Japan due to non-compliance with the country's regulations. The company, based in the Cayman Islands, has not received regulatory approval in Japan. It is unclear if the decision was influenced by "regulatory pressures and compliance requests" from Japan’s Financial Services Agency (FSA). From now on, Gate.io will not open new accounts for customers residing in Japan. The company will assist customers who wish to transition to compliant cryptocurrency exchanges within Japan. The schedule for the suspension of services will be announced later. The FSA had previously warned that four other crypto exchanges were operating in the country without proper registration.
