Japan's Financial Services Agency warns KuCoin and other companies to provide over-the-counter derivatives trading without registration

According to Cointelegraph, Japan's Financial Services Authority issued warning letters to several companies, including KuCoin, for engaging in over-the-counter derivatives trading without registration. The FSA said in its latest list that KuCoin, NeonFX, theoption and GTCFX were notified of "soliciting over-the-counter derivatives transactions through the Internet." Among them, KuCoin is headquartered in Seychelles and is listed as providing services to Japanese residents. The FSA issued a similar warning to exchanges such as KuCoin and Bybit in November 2024, and asked Apple and Google to suspend downloading KuCoin apps in February 2025.