Langsung ke konten utama

Japan’s Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit

Japan's Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit

The Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation.

Japan’s FSA Warns Bybit Fintech Limited

Japan’s top regulator that handles banking, securities and exchange, and insurance sectors within the economy has recently issued a warning to Bybit Fintech Limited. Bybit is a crypto derivatives exchange that offers digital currency futures, perpetual swaps, and other types of contracts to crypto asset traders. The FSA’s warning claims that Bybit’s operators are allowing Japanese citizens to leverage the platform and notes that the exchange has not registered with the regulator.

The news has been spreading like wildfire on social media and people discussed how Binance was warned about the same thing three years ago. In 2018, Japan’s FSA sent Binance a warning for not meeting the regulator’s registration requirements. The issues with Bybit come at a time where regulators all around the world are cracking down on crypto services. Japanese regulators are stepping up regulations like South Korea in order to meet Financial Action Task Force (FATF) virtual asset mandates.

The Bank of Japan (BoJ) Governor Haruhiko Kuroda also slammed the leading digital currency bitcoin (BTC) last week for speculation. “Most of the trading is speculative and volatility is extraordinarily high,” Kuroda told the press last Thursday. “It’s barely used as a means of settlement,” the central bank Governor criticized. The BoJ lead may be pressing the FSA to crack down on speculative trading and crypto derivatives exchanges.

Bybit Abandoned the UK Two Months Ago

A report published in August 2020, shows that Bybit expanded into Japan, South Korea, and Vietnam at that time. The report written by Mohammad Musharraf says Bybit’s platform “added support for the Japanese yen and South Korean won.” Bybit is one of the top five derivatives exchanges worldwide in terms of future volumes. Bybit was also warned by the United Kingdom’s Financial Services Agency last February.

“We believe this firm may be providing financial services or products in the UK without our authorisation,” the UK financial watchdog said at the time. In a blog post published on March 5, the crypto derivatives exchange Bybit revealed it ceased operations in the UK region.

What do you think about Bybit getting a warning from Japan’s top financial watchdog? Let us know what you think about this subject in the comments section below.



source https://news.bitcoin.com/japans-top-financial-watchdog-sends-a-warning-crypto-derivatives-exchange-bybit/
Label:

Komentar

Posting Komentar

Postingan populer dari blog ini

Kucoin Hacked for $150 Million in Bitcoin; Bitfinex and Tether Freeze $33 Million of the Stolen Funds

Cryptocurrency exchange Kucoin may have been hacked for $150 million in bitcoin and multiple ERC20 tokens. The Singapore-based exchange confirmed the September 25 security breach, but did not disclose the amount stolen. “Bitcoin, ERC-20 and, other tokens in Kucoin’s hot wallets were transferred out of the exchange,” said Kucoin in an update on Saturday. Meanwhile, Bitfinex and Tether, issuers of the centralized stablecoin USDT , immediately froze a combined $33 million worth of USDT suspected to be part of the funds looted in the Kucoin hack – an action that has stirred questions around the influence of centralized platforms. Paolo Ardoino, chief technology officer of both entities, tweeted that Bitfinex froze $13 million USDT on EOS as part of the hack. Tether froze $20 million USDT “sitting on this ethereum address as a precautionary measure,” he said. In its update, Kucoin maintains that funds in its cold wallets (offline storage, which is less susceptible to hacks) ar...
Posting Komentar
Baca selengkapnya

Pi Network: Menambang Cryptocurrency Gratis dan Anti Monopoli

Pi Network - Mulai Menambang Gratis Pi Network: Menambang Cryptocurrency Gratis dan Anti Monopoli Pi Network adalah proyek cryptocurrency yang memungkinkan Anda menambang Pi Coin secara gratis dan tanpa perangkat keras canggih. Hanya dengan menggunakan ponsel Anda, Anda bisa bergabung dalam jaringan blockchain yang sedang berkembang ini. Potensi Pi Network: Dengan semakin banyaknya pengguna, Pi Coin bisa menjadi mata uang digital yang sangat berharga di masa depan. Menambang Anti Monopoli: Tidak seperti penambangan tradisional, Pi Network memungkinkan siapa saja untuk berpartisipasi tanpa memerlukan perangkat keras mahal. Cara Menambang: Cukup unduh aplikasi Pi Network, daftar, dan mulai menambang hanya dengan menekan tombol di aplikasi setiap hari. Mulai Menambang Pi Network Gratis
Posting Komentar
Baca selengkapnya

Pi Coin dan Potensinya Kedepan Menurut Pakar Crypto Dunia

Apa Itu Pi Coin? Pi Coin adalah token yang beroperasi di atas Pi Network, sebuah proyek yang bertujuan membuat penambangan cryptocurrency dapat diakses oleh lebih banyak orang. Berbeda dengan Bitcoin, pengguna tidak perlu perangkat keras mahal—cukup dengan aplikasi smartphone. Dengan 35 juta pengguna yang disebut Pioneers, Pi Network berfokus pada membuat crypto lebih ramah pengguna dan ramah lingkungan. Peluncuran Open Network: Apa yang Akan Datang? Peluncuran Open Network pada 20 Februari 2025 menjadi titik penting bagi Pi Coin. Setelah tanggal ini, Pi Coin akan dapat terhubung dengan jaringan lain, membuka kemungkinan perdagangan di platform seperti WEEX, sebuah platform perdagangan futures crypto baru. Permintaan Pi Coin diperkirakan akan meningkat, yang berpotensi membuat harganya naik tajam. Tantangan Regulasi Namun, jalan Pi Coin tidak mulus. Proyek ini menghadapi tantangan regulasi yang cukup berat. Kepatuhan terhadap KYC (Know Your Customer) dan AML (Anti-Money Laundering) men...
Posting Komentar
Baca selengkapnya