Bitget announced this week it's pulling out of Japan entirely. Japanese traders have until December 31 to close their positions, after which the exchange will forcibly liquidate anything left open. New account registrations from Japan already stopped as of August 3.
The withdrawal marks the endgame for a multi-year regulatory standoff. Japan's Financial Services Agency first warned Bitget in March 2023 for operating without proper registration, then issued another warning in November 2024. By 2025, regulators escalated pressure by asking Apple and Google to remove Bitget's app from Japanese app stores, along with several other offshore exchange platforms. That move essentially killed any path forward for the exchange in the country.
Bitget frames the exit as a voluntary choice tied to "ongoing commitment to regulatory compliance in Japan." The platform specializes in derivatives trading, where users trade contracts linked to asset prices rather than buying assets directly, plus copy-trading features that automatically mirror other traders' positions.
The Phased Shutdown
The closure happens in stages. Starting November 1, accounts identified as belonging to Japanese residents will shift into "Close-Only" mode. Traders can still withdraw money but cannot open new positions. Spot trading, futures, and yield products all get shut off. Anyone convinced they were flagged incorrectly can appeal through identity verification before the November 1 date, but miss that window and the account gets treated as Japan-based regardless.
The real pain hits December 31. Any open positions still hanging on the books get force-closed at market price, whether traders like that price or not. Forced liquidations rarely work in the trader's favor. The compressed four-month timeline means anyone caught off guard could watch their holdings sold into whatever market conditions exist at year-end.
This article is for informational purposes only and does not constitute financial or investment advice.
