Gate to End Services and Account Creation in Japan from July 22

cryptonews.com:

Gate.io, one of the world’s leading cryptocurrency exchanges, announced its decision to terminate services in Japan and will stop opening new accounts for Japanese residents from July 22, 2024.

Furthermore, the exchange launched a legal compliance program in Japan to support customers in migrating transactions to crypto asset trading providers that comply with Japanese regulations.

According to today’s announcement, Gate.io will terminate services for customers in Japan.

This decision highlights the exchange’s commitment to complying with financial regulations in all regions where it operates.

Effective July 22, 2024, the exchange will suspend the opening of new accounts for customers residing in Japan.

To ensure a smooth termination of services for existing users in Japan, Gate.io will implement several measures.

Firstly, the exchange will launch a program to help customers migrate their transactions to cryptocurrency exchanges that comply with Japanese regulations. This program will ensure that users can continue their activities within the legal framework of Japan.

Additionally, Gate.io will take steps to comply with Japanese law, including deleting Japanese descriptions on the platform.

During the support period, the exchange will provide information in Japanese to the extent necessary to assist users in their transition.

Lastly, details regarding the suspension of its services, including the response plan and schedule for the migration of transactions, will be communicated in accordance with compliance requests from the Financial Services Agency.

According to the exchange, these details will be implemented in accordance with compliance requests from authorities such as the Financial Services Agency.

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