The post Crypto Exchange Gate.io Ceases Japan Operations, Here’s Why appeared on BitcoinEthereumNews.com.

As of July 22, 2024, Gate.io has announced the termination of its services in Japan, citing the need to comply with local financial regulations. This decision is in line with the exchange’s policy of obeying the laws of the international community. Gate.io Ends Services for Japanese Customers Gate.io has temporarily suspended new account creation for individuals in Japan as of July 22, 2024. This is the first step towards meeting the Japanese financial regulations with a view of ensuring that the company is in line with the set legal requirements. Existing users in Japan are requested to act according to their account management and get ready for the end of the services. Gate.io aims at assisting its customers to transfer their transactions to cryptocurrency exchanges that are regulated by Japanese laws. The cryptocurrency exchange Gate announced that it will stop providing services in Japan and will stop opening new accounts for Japanese residents from July 22, 2024. It has launched a legal compliance program in Japan to support customers in migrating transactions to crypto… — Wu Blockchain (@WuBlockchain) July 22, 2024 As for the smooth transition, Gate.io will take the following actions. The platform will remove Japanese descriptions and limit the availability of Japanese language options, only as necessary during the transition. The exchange will also give information on the services that have been suspended, the plan that the exchange is going to use in migrating the affected assets, as well as the crypto assets that have been affected due to the FSA’s compliance orders. Any customer with a concern or an issue is advised to contact the support team of Gate.io for help. The exchange apologizes for any inconvenience and reiterates its focus on compliance with the relevant rules across all its markets. Gate.HK Ceases Operations At the same…

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Filed under: News - @ July 23, 2024 9:16 am