TechFlow reports that on January 23, according to Coinpost, cryptocurrency exchange Bybit announced it will gradually terminate its products and services for Japanese residents. Starting March 23 at 12:00 JST, Japanese users' accounts will switch to "close-only" mode, preventing the opening of new positions. By July 22 at 12:00 JST, all remaining open positions will be forcibly liquidated.
Affected users include those holding identification documents issued in Japan, proof of Japanese address, or accessing the platform via Japanese IP addresses. After March 23, users will no longer be able to use one-click purchases, the Bybit Card, P2P trading, spot trading, or derivatives trading services. Asset conversions will be limited to transfers between BTC, ETH, and USDC only.
This move comes amid tightening regulations by Japan's Financial Services Agency (FSA) toward overseas cryptocurrency exchanges. Bybit has received warnings from the FSA on three occasions, and analysts suggest this may indicate the exchange is preparing to formally enter the Japanese market.
