Japan’s Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit

Japan’s Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit


The Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation.

Japan’s FSA Warns Bybit Fintech Limited

Japan’s top regulator that handles banking, securities and exchange, and insurance sectors within the economy has recently issued a warning to Bybit Fintech Limited. Bybit is a crypto derivatives exchange that offers digital currency futures, perpetual swaps, and other types of contracts to crypto asset traders. The FSA’s warning claims that Bybit’s operators are allowing Japanese citizens to leverage the platform and notes that the exchange has not registered with the regulator.

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The news has been spreading like wildfire on social media and people discussed how Binance was warned about the same thing three years ago. In 2018, Japan’s FSA sent Binance a warning for not meeting

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