Bybit to restrict new user registrations in Japan from October 31.
Starting October 31, cryptocurrency exchange Bybit will restrict new user registrations in Japan. The platform aims to comply with new requirements set by the FSA.
The company described this move as a “proactive approach” to adhering to digital asset regulations.
“Bybit has always aimed to operate responsibly, in accordance with local laws and regulatory requirements,” the exchange stated.
The restrictions will not affect existing clients in Japan—all services will continue to operate for them. The company promised to share information as its dialogue with the regulator progresses.
Earlier, the FSA announced it is considering reforms that would allow banks to hold cryptocurrencies like Bitcoin and manage licensed exchanges. The goal is to equate digital assets with traditional instruments such as stocks and government bonds.
The agency is expected to develop a risk management system related to cryptocurrency volatility. This could pave the way for broader institutional adoption in Japan’s banking sector.
Back in August, Japan’s Finance Minister Katsunobu Kato acknowledged that cryptocurrencies could be part of diversified investment portfolios.
In October, Japanese startup JPYC launched the world’s first “stablecoin” pegged to the yen.
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AloJapan.com