In a recent development, the Japanese Financial Services Agency (FSA) has requested major tech companies Apple and Google to remove apps of unregistered cryptocurrency exchanges from their app stores in Japan. As a result, apps for exchanges such as Bybit, KuCoin, Bitget, MEXC, and LBank are no longer available on the Japanese App Store.

While there is no confirmation regarding Google’s compliance, Bybit has already acknowledged the removal and reassured users that those who previously downloaded the app can continue using it without issues. The exchange stated:
“We sincerely apologize for any inconvenience caused. Please note that this does not affect our services. All functions, including deposits, withdrawals, and trading, remain fully operational, and customer funds are secure.”

Japan has a reputation for strict cryptocurrency regulations aimed at protecting investors and maintaining market integrity. According to crypto analyst Andy Lian:

“Japan continues to lead in digital asset regulations, prioritizing consumer protection and market stability. This move reflects their commitment to these values.”

This action highlights the delicate balance between fostering innovation in cryptocurrency and ensuring the safety of market participants.