Apple has quietly removed several cryptocurrency exchange apps from its App Store for Japanese users.
The move was reportedly in response to warnings from the country’s Financial Services Agency (FSA).
According to Yahoo Japan, the apps of major exchanges, including Bybit, KuCoin, Bitget, MEXC, and LBank, are no longer accessible in Japan. The FSA had previously flagged these platforms for operating without proper registration.
Interestingly, the removal doesn’t affect all unlicensed exchanges. Apps from Crypto.com and CoinEx remain available, with searches for “crypto assets” or “virtual currency” still displaying these options in the App Store.
In a blog post dated February 6, Bybit acknowledged its app’s removal but assured users that its services remain unaffected.
“We sincerely apologize for any inconvenience and concern this may have caused. However, Bybit’s services are not affected in any way. Bybit continues to provide services to Japanese users, and all functions, including deposits, withdrawals, and trading, are available as usual. Please be assured that all customer accounts and assets are secure.”
Authorities in Japan have yet to issue an official statement on the app removals. However, the timing aligns with the FSA’s recent push for tighter oversight of cryptocurrency platforms. In December, the regulator announced plans to revise its guidelines to better align with international standards, with a focus on internal audits and risk management.
This development comes as Japan’s regulators maintain a conservative stance on cryptocurrency exchange-traded funds (ETFs), contrasting with the more progressive approaches in the U.S. and Hong Kong. Oki Shiozawa, investment director at Sumitomo Mitsui Trust Asset Management, revealed that the Financial Services Agency (FSA) was not yet prepared to approve crypto ETFs. Shiozawa noted that while calls for regulatory reform are growing, the FSA had begun reviewing the current framework to ensure robust investor protection.
The ongoing evaluation could potentially result in amendments to Japan’s investment laws, including a reclassification of cryptocurrencies as financial instruments. Such changes might enable domestic funds to explore digital asset investments in the future.
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