Bitget is exiting the Japanese market, ending new registrations and initiating a phased shutdown of existing accounts. This decision follows a warning from Japan's Financial Services Agency, indicating that Bitget was operating as an unregistered exchange. Instead of enduring the complex registration process, Bitget has opted for a clean exit.
The shutdown will commence on August 3, 2026. At this time, Bitget will restrict new account registrations for anyone identified as a Japanese resident. As of November 1, 2026, accounts held by these residents will be restricted to "close-only" trading. This means users will be allowed to sell assets but cannot make new purchases. The final date for open positions is December 31, 2026, after which any remaining holdings will be forcibly liquidated. This creates a pressing timeframe for Japanese users to withdraw assets and avoid potential losses. Bitget advises its users to take action promptly and suggests completing Level 2 Know Your Customer verification to mitigate automatic classification as a Japanese resident under the new rules.
Japan has one of the most stringent regulatory environments for cryptocurrencies globally. Exchanges that serve Japanese customers must obtain formal registration from the Financial Services Agency, a process that involves rigorous compliance with capital reserves and ongoing oversight. The FSA's earlier warning also encompassed other exchanges, including Bybit, KuCoin, and MEXC, which similarly lack registration. The Japanese regulatory landscape has evolved significantly since high-profile incidents like the Mt. Gox collapse and the Coincheck hack. The country continues to enforce strict regulations on unregistered crypto operations, which creates a divide between compliant domestic exchanges and those that choose the route of non-compliance. Bitget’s decision emphasizes the importance of regulatory compliance, as legitimate exchanges like bitFlyer, Coincheck, and GMO Coin successfully operate under the FSA's regulations.
What does this mean for crypto traders? The immediate course of action for affected Bitget users is clear: withdraw your assets without delay. With the phased timeline, there is a window of opportunity, but waiting until the last moment could result in forced liquidation at unfavorable prices. The December 31 deadline is non-negotiable, reinforcing the urgency of swift action for account holders.