- Bitget stopped new registrations from Japanese residents on Sunday.
- Accounts treated as Japanese move to close-only mode on Nov. 1.
- All remaining positions will be forcibly closed on Dec. 31.
Bitget Japan is shutting down crypto trading services for residents of the country as the exchange says it works to comply with local regulations. In a Monday announcement, Bitget said it had already stopped accepting new registrations from Japanese residents on Sunday. Existing users who believe they were incorrectly identified as living in Japan must complete Level-2 identity verification and provide proof of address by Nov. 1. If they do not, their accounts will be treated as Japanese. Bitget Japan will then shift those accounts into close-only mode before forcing the closure of any remaining positions on Dec. 31, while withdrawals stay available after that date.
Bitget Japan service shutdown timeline
Bitget said it will stop providing crypto trading services to residents of Japan, but it did not point to one single regulatory action as the direct cause. The exchange said the move is part of its effort to comply with local rules. The first step has already happened, with new registrations from Japanese residents halted on Sunday.
For current users, Bitget Japan has set out a firm schedule. Users who think the exchange wrongly labeled them as Japanese residents must complete Level-2 identity verification and submit proof of address by Nov. 1. Bitget said any account that does not complete that process will be considered Japanese for the purpose of the restrictions.
What Bitget Japan means for existing users
Starting Nov. 1, accounts treated as Japanese will be placed in close-only mode, according to Bitget’s FAQ. That means users will no longer be able to open new positions or add to existing ones. The restrictions go beyond a single product and apply across much of the platform’s trading activity.
Bitget Japan said affected users will lose access to spot trading, futures trading, copy trading, trading bots and earn products. Deposits will still be possible, although subject to limits, and withdrawals will remain available. The exchange also said card services will be suspended on Dec. 31, the same date it plans to forcibly close all remaining positions.
Bitget Japan and tighter local rules
Japan recently reclassified cryptocurrencies as financial instruments after legislation passed by parliament in mid-July. Those rules are expected to take effect next year. Under the new framework, operating without registration can lead to fines of about $62,800 and prison terms of up to 10 years.
Crypto trading platforms that serve people in Japan are required to follow rules overseen by the Financial Services Agency. The country has taken a strict line toward foreign exchanges operating without local registration. Bitget did not immediately respond to a request for more detail on whether one specific rule change or action drove the Bitget Japan decision.
Bitget Japan follows an earlier warning
The exchange has previously faced scrutiny in the country. In 2023, Bitget, Bybit, BitForex and MEXC received a warning letter stating they were operating in Japan without proper registration and were therefore violating the country’s fund settlement laws. The warning showed that Japan’s registration requirements already applied to offshore platforms serving users in the country.
CoinDesk’s source also noted Bitget’s market standing, with Coingecko ranking the exchange fifth by trading volume at roughly $714.7 million over the past 24 hours. Even so, the Bitget Japan announcement focused on the withdrawal process for local users rather than on the company’s broader business, and it did not tie the shutdown to a single named enforcement step.
Conclusion
Bitget Japan is following a clear exit schedule for residents and for accounts the exchange determines should be treated as Japanese. New registrations have already been stopped, users disputing their status must complete Level-2 verification with proof of address by Nov. 1, and affected accounts will move into close-only mode from that date. On Dec. 31, Bitget said it will forcibly close any remaining positions and suspend card services, while still allowing withdrawals afterward. The move comes as Japan pushes ahead with a stricter legal framework for crypto platforms and continues to require registration for exchanges serving users in the country.
Disclaimer
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