Japan: Announced Financial Services Agency investigation into LBank Exchange for allegedly operating an unregistered cryptocurrency exchange business

On 14 June 2024, Japan's Financial Services Agency (FSA) issued a public warning against LBank Exchange for conducting cryptocurrency exchange business without the necessary registration. Lbank is an online platform engaging in the trading of cryptocurrencies such as BTC, ETH, and WFCA. The warning was issued based on the Administrative Guidelines Part III: Financial Companies Section 16, Cryptocurrency Exchange Business III and noted the absence of a registered representative and a known location for the business.