While Bitcoin (BTC ($97,729.74)) and cryptocurrencies continue to gain acceptance around the world, Japan continues its anti-crypto actions.
Japan’s Financial Services Agency (FSA) has asked Apple and Google to remove the apps of five unregistered cryptocurrency exchanges, local news agency Nikkei reported.
At this point, the FSA has requested Apple and Google to suspend downloads from five cryptocurrency exchanges: Dubai-based Bybit Fintech, Singapore-based MEXC Global, LBank Exchange, Seychelles-based KuCoin, and Singapore-based Bitget.
Japan, which has a more cautious approach towards cryptocurrencies compared to other Asian markets, continues this stance with its latest move.
Although Japan has taken a tough stance against cryptocurrency exchanges, experts said the FSA’s decision to block crypto exchanges does not amount to a crackdown on retail cryptocurrency investments.
“This move is not about shutting down crypto investment. It’s about drawing a line under the bus and saying, ‘If you want to be in our market, you have to play by our rules.’ And I honestly think that’s exactly the right move. Japan’s regulatory framework is not an arbitrary barrier or a war on crypto. It’s a safeguard designed to protect investors from the kind of chaos we’ve seen in the past, like the Mt. Gox disaster. If these exchanges want to serve Japanese users, all they need to do is be compliant,” said blockchain expert Anndy Lian.
*This is not investment advice.
Continue Reading: Positive News for Bitcoin and Cryptocurrencies Expected, Japan Makes Unexpected Harsh Moves About Five Crypto Exchanges!
