Bitget Exits Japanese Market Due to Regulatory Pressure and Currency Volatility
Crypto exchange Bitget has announced it will stop accepting new registrations from Japanese users, marking a phased exit that includes forced position closures by December 31, 2026. The decision follows Japan's tightening regulatory environment for crypto service providers under the Payment Services Act, which requires local registration and compliance with capital, custody, consumer protection, and anti-money laundering standards. The move also coincides with significant yen depreciation against the U.S. dollar, reaching a near 40-year low in July 2026 due to rate differentials and carry-trade activity. Japan's government intervened alongside the United States in an unprecedented coordinated effort to stabilize the currency, which briefly reversed its decline but remains under pressure. Bitget cited regulatory compliance as the reason for its withdrawal, highlighting the growing challenges of operating in a market with high fixed costs and volatile financial conditions.
Topics: Bitget exit cryptocurrency Japan regulation yen turmoil