Gate.io to Cease Services for Japanese Customers

Gate[.]io, a crypto exchange, has started to stop serving Japanese consumers, claiming "compliance requests" from the nation's financial authority.ย
Gate[.]io, a crypto exchange, has started to stop serving Japanese consumers, claiming "compliance requests" from the nation's financial authority.ย
Key Takeaways Japanese financial regulators have recently issued new guidelines concerning peer-to-peer (P2P) crypto transactions, putting a spotlight on the need for local banks to step up their vigilance. The Financial Services Agency (FSA) clarified that these guidelines are specificallyโฆ
Japan's main financial regulator, the FSA, has recommended a number of steps to shield customers against "unlawful transfers" to crypto exchanges.
The MAS and the FSA established a collaboration for the combined regulation and pilot testing of cryptocurrency projects.
To increase market liquidity and draw in a variety of traders, revised margin trading caps are being pushed.
As it cracks down on cryptocurrency exchanges in Japan, the FSA of Japan issues warnings to companies like Binance, Bybit, MEXC Global, and BitForex regarding unregistered activities.
Japanโs FSA will only allow stablecoins that successfully pass individual checks ensuring that they provide user protectionย