Overview
- Bitget stopped new registrations from people in Japan and announced the phased exit in a notice issued on Monday, with the company advising affected users to withdraw assets.
- Accounts flagged as Japan residents must complete Level‑2 identity and address verification by Nov. 1 to avoid being classified as domestic users and losing trading access.
- Starting Nov. 1 those accounts will be switched to close‑only mode, which lets users sell or withdraw but not open new positions or use trading products.
- Any positions still open after Dec. 31, 2026 will be forcibly liquidated and card services will be suspended, a step that can produce poor execution and losses for traders who wait.
- The decision follows repeated warnings from the FSA and a recent law that reclassifies crypto as financial instruments with stiffer penalties, and it fits Bitget’s strategy of restricting markets where it lacks local authorization while pursuing registration elsewhere.