Apple quietly removes several crypto exchange apps from Japan’s App Store.
As a result of authorities’ worries, Apple appears to have withdrawn multiple cryptocurrency exchange apps from the App Store in Japan, leaving some of them missing.
As stated in a report by Yahoo Japan, the mobile applications for Bybit, KuCoin, Bitget, MEXC, and LBank are no longer accessible through the App Store in Japan.
In the past, the Financial Services Agency of Japan had issued a warning to these exchanges for operating without being sufficiently registered.
However, this does not apply to all unlicensed trades of any kind. The findings of the report indicate that searches for “crypto assets” or “virtual currency” continue to result in the presentation of applications from Crypto.com and CoinEx.
Bybit issued a blog post on February 6, attesting to the withdrawal of the app but assuring users that those who have already downloaded it can continue using it without any issues.
“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.”
Bybit
At the time of this publication, the authorities have not issued any statements to the public. The timing is noteworthy because it comes just a few weeks after the Financial Services Authority (FSA) advocated for more stringent internal audits and oversight of cryptocurrency exchanges.
Towards the end of December, the regulatory body announced in a press release that it intended to revise its “Current Situation and Issues” rules in order to bring them in line with worldwide norms.
In addition, it held a roundtable discussion on the topic of enhancing the internal auditing procedures of financial institutions toward the end of January.
The Japan Cryptocurrency Exchange Association actively participated in the discussion. Nevertheless, there was no disclosure of any information regarding that encounter.
