Crypto exchange Gate.io has initiated the closure of services for its Japanese clientele due to regulatory compliance requests from the country's financial watchdog. The Cayman Islands-based exchange declared the cessation of operations for all Japanese users on July 22, promising to aid affected clients in transferring their funds. Effective immediately, Gate.io will halt the registration of new accounts for Japanese customers. The exchange attributed the shutdown to regulatory demands from entities like the Financial Services Agency and pledged to furnish more information soon. Gate.io plans to introduce a scheme to adhere to Japanese laws, guiding customers to compliant exchanges. While removing Japanese language content from its platform, the exchange will offer updates to facilitate account transfers. The termination schedule and asset migration will align with the FSA's directives. Despite Japan's strict crypto regulations, companies like Metaplanet continue to invest in Bitcoin, showcasing confidence in the digital asset market. Read more AI-generated news on: https://app.chaingpt.org/news

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