Bitget Exits Japan: Open Positions Force-Closed Dec. 31

Bitget has begun a phased withdrawal from Japan, ending cryptocurrency trading services for residents of the country after repeated regulatory warnings. New registrations from Japanese users have already been halted, and existing accounts identified as belonging to Japanese residents will switch to close-only mode on Nov. 1.

In close-only mode, users will no longer be able to open new positions or increase existing ones across spot and futures trading, copy trading, trading bots and yield-related products. Deposits will remain available subject to limits, and withdrawals will continue to be permitted. Bitget plans to forcibly close any remaining open positions on Dec. 31, while card services will be suspended. Users who believe they were incorrectly classified as Japanese residents must complete Level 2 identity verification with proof of address by Nov. 1; accounts that fail to do so will be treated as resident accounts and face the same restrictions.

Bitget said the decision follows its obligation to comply with local regulations, but it did not point to a single enforcement action or legal change as the trigger. The exchange had been warned by Japan's Financial Services Agency in March 2023 and again in November 2024 for providing services to Japanese residents without the required registration. In June 2025, the Kanto Local Finance Bureau also warned BTG Technology Holdings Limited, which it said operated services under the Bitget name, over alleged solicitation of online over-the-counter derivatives transactions without registration. Bitget was among several overseas exchanges, including Bybit, BitForex and MEXC, that Japanese regulators warned in 2023.

Regulatory context

The exit comes as Japan tightens its oversight of unregistered offshore platforms. Legislation approved by parliament in mid-July reclassifies cryptocurrencies as financial instruments and introduces tougher penalties for companies operating without registration. The rules are expected to take effect next year, with unauthorized operators facing fines of about $62,800 and individuals involved in serious violations potentially facing prison sentences of up to 10 years.

Bitget remains one of the larger cryptocurrency exchanges by reported activity, with roughly $714.7 million in 24-hour volume at the time of the announcement. The withdrawal from Japan is not a business shutdown but a market-specific retreat driven by regulatory exposure. It removes the risk of penalties or abrupt account freezes for the exchange, while licensed domestic platforms may gain trading activity, deposits and market share as Japanese users look for alternatives.

Affected users should review account communications, complete address verification where required and confirm service-specific deadlines. The most immediate risk is for open positions, which move to close-only mode in November and are scheduled for forced liquidation at the end of December.