Japan's Financial Services Agency Updates Warning Page for Unlicensed Crypto Platforms, Urges Vigilance Against Risks Such as Blocked Withdrawals

Odaily reports that Japan's Financial Services Agency (FSA) updated its warning page for "unlicensed financial and crypto asset trading platforms" on November 10, adding a link to the Japan Consumer Affairs Agency's anti-fraud measures, and reminding investors to be wary of trading platforms not registered in Japan. The FSA noted that such platforms lack investor protection mechanisms and may refuse user withdrawals, charge exorbitant fees, or suddenly become unreachable, and reminded users to verify platform credentials through the "Unified Search Function for Financial Businesses" before trading. The FSA's warning list updated in September added a Hong Kong company operating "IZAKA-YA." The Japan Consumer Affairs Agency introduced anti-fraud measures in September, which will use AI to analyze consumer consultation data from various regions to identify malicious fraud schemes at an early stage.