- Japan’s FSA enforces compliance rules on crypto exchanges.
- The FSA asked Apple and Google to disable non-compliant apps.
- The regulatory move does not target retail crypto investment.
Japan’s Financial Services Agency (FSA) has told Apple and Google to stop offering app downloads for five crypto exchanges, including Bybit, MEXC, LBank, KuCoin, and Bitget. This is all about compliance.
According to the agency, the action had nothing to do with trying to stop crypto investing. Instead, it aims to enforce already existing compliant requirements to ensure exchanges operating within the region do so under the defined rules.
Related: Japan’s FSA Cracks Down on Unregistered Crypto Exchanges
Although the FSA issued the restriction order in the previous week, Apple reportedly implemented the order on February 6. The telecommunications giant has removed the applications of the affected exchanges from its App Store, restricting downloads in the Japanese region.
Japan’s Cautious Approach vs. Hong Kong’s Embrace
Notably, Japan has been more cautious in its approach to the crypto industry than other parts of Asia. For example, the country has yet to decide whether to approve crypto-related ETFs. Meanwhile, Hong Kong already approved spot Bitcoin and Ethereum ETFs, reflecting their flexibility toward the crypto industry.
In the meantime, some top crypto stakeholders in Japan agree with the government’s decision to enforce the rules, noting that it is not about shutting down retail crypto investing. One such stakeholder is intergovernmental blockchain expert Anndy Lian, who supported the regulator’s approach, stating that he considers it the “right move.”
According to Lian, Japan has always been ahead of the curve in regulating digital assets. He sees the latest move as another example of the Japanese government prioritizing consumer protection and market integrity.
Japan’s Consistent Regulatory Stance
Meanwhile, the Japanese government is renowned for taking regulatory measures toward the crypto industry through the FSA. Last year, the agency released a new tax reform for 2025, which would treat crypto like traditional financial assets.
Related: Japan Considers Bitcoin and Ether ETFs as Global Adoption Grows
The government is consistent, insisting that regulation does not mean war against crypto but a push for investor safety and accountability.
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