TechFlow News — On November 29, according to CoinPost, Japan's Financial Services Agency (FSA) issued warning letters to five unregistered overseas cryptocurrency exchanges. The exchanges include KuCoin, bitcastle LLC, Bybit Fintech Limited, MEXC Global, and Bitget Limited.
The FSA pointed out that these exchanges are providing cryptocurrency trading services to Japanese users without proper authorization, violating Japan’s regulations on crypto asset trading. Since unregistered exchanges are not regulated by the FSA, there is no guarantee regarding the management and security of customer assets. In the event of disputes or unforeseen incidents, users may not be protected under Japanese law and would not benefit from legal mechanisms for asset preservation or compensation.
