Japan's FSA warns 5 unregistered crypto exchanges

Japan's Financial Services Agency (FSA) issued warnings to five unregistered cryptocurrency exchanges: KuCoin, bitcastle, Bybit, MEXC Global and Bitget. According to local news outlet CoinPost, these exchanges provided services to Japanese users without proper registration, violating local regulations. Unregistered operators are not supervised by the FSA, raising concerns about asset management and customer protection in case of disputes or unexpected events. Such services also fall outside the scope of legal safeguards under Japanese law.