Japan to Crypto Exchanges: Comply or Get Blocked by Apple & Google
In a bold regulatory move, Japan’s Financial Services Agency (FSA) has formally requested tech giants Apple and Google to block access to cryptocurrency exchange apps operating in the country without official registration. This unprecedented step marks Japan’s latest effort to tighten oversight of its crypto sector and protect investors from unregulated platforms, local media reported on Feb. 7.
According to local media reports, Apple swiftly complied with the FSA’s request by removing apps linked to prominent overseas exchanges like Bybit and MEXC Global from its App Store. Google, however, has yet to confirm whether it will take similar action. Three additional unnamed exchanges are also under scrutiny.
Under Japan’s Payment Services Act, all crypto exchanges must register with the FSA to operate legally. The law mandates strict anti-money laundering (AML) protocols, know-your-customer (KYC) checks, and safeguards to segregate customer funds from corporate assets. These measures were reinforced after devastating hacks like the Mt. Gox breach in 2014 and the $530 million Coincheck theft in 2018, which exposed vulnerabilities in Japan’s crypto ecosystem.
The FSA had repeatedly warned Bybit, MEXC Global, and others to halt services targeting Japanese users. However, the platforms allegedly continued allowing access, prompting the regulator to escalate enforcement by involving app store operators. Analysts suggest this collaboration with tech firms underscores Japan’s zero-tolerance stance toward non-compliant actors.
“This move sends a clear message: unregistered exchanges cannot circumvent Japan’s rigorous standards,” said a Tokyo-based fintech analyst. “Tech companies are now pivotal gatekeepers in regulatory enforcement.”
Registered exchanges in Japan face stringent requirements, including regular FSA audits and cybersecurity benchmarks. The FSA’s latest crackdown could pressure global platforms to either comply with these rules or exit the Japanese market entirely.
