Apple Removes Bybit, KuCoin, Bitget, and Other Crypto Exchange Apps from Japan's App Store

Apple has quietly removed several prominent cryptocurrency exchange apps from Japan’s App Store, following concerns raised by the country’s financial authorities.

As reported by Yahoo Japan, mobile apps for popular exchanges such as Bybit, KuCoin, Bitget, MEXC, and LBank are no longer available for download in Japan’s App Store. The move comes after Japan's Financial Services Agency (FSA) issued warnings to these platforms for operating without proper registration.

A Response to Regulatory Pressure

The removal of these apps follows increased scrutiny by the FSA, which has been pushing for tighter regulation of crypto exchanges in the country. In a blog post on February 6, Bybit confirmed that its app had been removed from the App Store but reassured users that those who had already downloaded the app could continue to use it without disruption.

Bybit's statement emphasized that the app's removal would not affect its services, stating: "We sincerely apologize for any inconvenience or concern this may cause. Please note that this does not affect Bybit’s services in any way. We continue to serve Japanese-speaking customers, and all functions, including deposits, withdrawals, and trading, remain fully operational. All customer accounts and assets are securely protected."

Regulatory Developments in Japan

The timing of these app removals is significant, as it follows recent actions by the FSA to ramp up oversight of the cryptocurrency industry. In late December, the FSA announced plans to update its guidelines to align with international standards for crypto exchange regulation. This update aims to strengthen internal audits and oversight processes for exchanges operating in Japan.

The FSA also hosted a roundtable in January, which involved the Japan Cryptocurrency Exchange Association (JCEA), to discuss enhancing internal audits at financial institutions. However, the specifics of that meeting have not been disclosed.

Impact on Other Exchanges

While apps for Bybit, KuCoin, Bitget, MEXC, and LBank have been removed, not all unregistered exchanges have been affected. According to the Yahoo Japan report, searches for terms such as "crypto assets" or "virtual currency" still bring up apps for exchanges like Crypto.com and CoinEx, which appear to be compliant with the regulatory framework in Japan.

As the crypto industry in Japan continues to evolve, exchanges will likely face increased pressure to comply with the FSA’s growing regulatory standards. The removal of certain apps from the App Store serves as a reminder of the regulatory environment that crypto exchanges must navigate to operate within Japan's borders.