BitMEX will terminate users’ access to services in Japan, as required by new law articles to come into force on May 1st.
Crypto derivative giant BitMEX announced that it will soon restrict access to the platform for all users in Japan.
In the statement made today from the Seyseller-based exchange, it was stated that new members’ registrations will not be received as of April 30, and an order ban will be imposed on existing users as of May 1.
BitMEX made this decision to comply with the recent amendments to the Japan Financial Instruments and Exchange Law and the Japan Payment Services Law, which will come into force on May 1st.
With the amendments in the laws, crypto companies were required to register with regulatory agencies and comply with management of user transaction records, advertising, information disclosure and other relevant provisions.
BitMEX also stopped users from Hong Kong, Seychelles and Bermuda access to its services last year. The stock exchange is the most trading cryptocurrency exchange after Binance in the field of derivatives.