Japan's FSA Updates Warning Page on Unlicensed Crypto Platforms, Flags Withdrawal Blocking and Other Risks

November 10 — According to CoinPost, Japan's Financial Services Agency (FSA) updated its warning page on "unlicensed financial and crypto asset trading platforms" on November 10 and added a link to the Consumer Affairs Agency's anti-fraud measures, reminding investors to be wary of platforms not registered in Japan.

The FSA noted that such unlicensed platforms lack investor protection mechanisms and often refuse user withdrawals, charge "exorbitant fees" or even suddenly go incommunicado. Officials remind users to verify a platform's credentials through the "unified financial service provider search function" before trading. In the warning list updated in September, a Hong Kong company operating "IZAKA-YA" was newly added. In addition, Japan's Consumer Affairs Agency introduced anti-fraud measures in September, using AI to analyze consumer consultation data from various regions so as to identify malicious fraud schemes early.