Cryptocurrency exchange Gateio announces its departure from the Japanese market! To comply with the regulations of the Financial Services Agency

This site (120bTC.coM): The international exchange Gate.io has a certain popularity in the Japanese market. However, on 7/22 Gate.io announced that it will cease services in the Japanese domestic market to comply with local Japanese regulations. .

According to the announcement, starting from July 22, Gate.io will stop Japanese residents from opening new accounts, guide existing Japanese users to transfer to Japanese compliance exchanges, and will no longer display non-essential Japanese information on the website. The actual suspension time of Japan services will be announced separately.

This move shows that in legal areas with a licensing system, it is increasingly seen that operators have to make a choice: enter the local market in compliance with regulations, or choose to operate offshore. There are currently 29 exchanges holding licenses in Japan, and only half of them may actually have a basic market share.

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