Overseas exchange takes proactive exit! Gate.io announces departure from the Japanese market to comply with financial regulations.

The international exchange Gate.io is popular in the Japanese market, however, on 7/22 Gate.io announced that it will cease its services in the Japanese domestic market to comply with local regulations in Japan.

The international exchange Gate.io has gained popularity in the Japanese market. However, on 7/22, Gate.io announced that it will cease its services in the Japanese market to comply with local regulations.

According to the announcement, starting from July 22, Gate.io will stop Japanese residents from opening new accounts and will guide existing Japanese users to transition to compliant Japanese exchanges. Non-essential Japanese website information will also no longer be displayed. The actual suspension of services in Japan will be announced separately at a later date.

This move indicates that in jurisdictions with licensing systems and rule of law, more and more operators are faced with choices: either comply and enter the local market or choose to operate offshore. Currently, there are a total of 29 licensed exchanges in Japan, but only half of them may be operators with actual market share.

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