Japan Issued Warning Against 4 Exchanges Including Bybit And MEXC
Among them, according to market data site CoinGecko, Bitget is currently 6th and Bybit 7th in the 24-hour trading volume chart, both of which are major exchanges in the world.
Bybit also has a significant market share in derivatives trading and is heavily used by Japanese traders. In terms of 24-hour derivatives trading volume, it ranks sixth in futures contracts.
In May 2021, Bybit was alerted that they were conducting an unregistered virtual currency exchange business, and it was listed on the unregistered traders list.
Since 2018, the Financial Services Authority has stepped up its scrutiny of unregistered businesses following a cryptocurrency leak from Coincheck. At the time, the Financial Services Authority, the National Police Agency, and the Consumer Affairs Agency held a general manager-level meeting to confirm the increased cooperation.
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