Japan’s Financial Services Agency (FSA) has issued a warning to LBank Exchange, a major global crypto trading platform. The regulator claims LBank has been operating without proper registration, breaking Japanese laws.
This crackdown follows similar actions against other exchanges like Bybit, MEXC, Bitget, and Bitforex last year. The FSA accused these platforms of illegal operations due to lack of registration and essentially blocked them from the Japanese market.
LBank, launched in 2015, has grown into a leading centralized crypto exchange offering a wide range of digital assets. However, its “unknown address” and “unknown representative” raised concerns for the FSA regarding transparency.
The warning serves as an indicator that Japan won’t tolerate regulatory violations as it aims to become a crypto hub. Despite the scrutiny, LBank continues to launch new offerings, like listing the Aethir (ATH) token for GPU cloud computing on June 12.
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