Bybit, Bitget, BitForex and MEXC Global were hit by Japanese regulators for operating without the required registration.
This Friday, the Japanese Financial Services Agency (FSA) published a statement in which they spoke about four exchanges that, as it turns out, have been operating for an impressive amount of time in Japan without registration.
The notice states that at the time the warning letter was issued, the exchanges violated the country’s legislation on settlements with funds, since they “conducted activities exchanging crypto assets without registration.”
As we still remember, the FSA has already sent an official warning letter to Bybit for operating without the necessary permits back in 2021.
If we look at it from the point of view of the law, then such warnings are not just words, but rather serious violations, but as we can see so far, the country does not plan to strictly suppress the crypto industry. At least the doors of the exchange offices have not been knocked down yet, and thanks for that :D.