Bybit to Halt New User Registrations in Japan

Core Points - Bybit will temporarily halt new user registrations in Japan as of October 31 to comply with regulatory guidelines from the Financial Services Agency of Japan [1][2] - Existing users in Japan will not be affected by this temporary measure, which applies to both individuals and corporations [2] - The move reflects Bybit's commitment to investor protection and regulatory compliance across different jurisdictions [2] Regulatory Environment - Japan's Financial Services Agency is focused on regulating foreign crypto exchanges operating without registration and has introduced stricter rules, including a 2024 amendment to the Financial Instruments and Exchange Act [4] - The agency has imposed harsher penalties on unregistered operators, indicating a more stringent regulatory landscape for cryptocurrency operations in Japan [4] Bybit's Global Strategy - Bybit has secured a regulatory license in the UAE, becoming the first crypto exchange to obtain full Virtual Asset Platform Operator permission from the Securities and Commodities Authority [5] - The CEO of Bybit emphasized that this approval demonstrates the company's commitment to compliance and transparency [5] - Alongside regulatory approvals, Bybit has formed strategic partnerships, including a collaboration with Thredd to expand multi-currency crypto-linked debit card programs globally [5][6]