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Bitget Limited: Overview of an Unregistered Foreign Crypto-Asset Exchange Targeting Japan

Confidence Likely
Updated 2026-05-19
Review by 2027-05-19
Sources 5 Machine-translated Original (JA)
#fintech#jp-foreign-exchange#fsa-warned#unlicensed#bitget
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This entry sits under exchanges index. Read it with FSA crypto-asset exchange registration system for adjacent context and Japan financial regulation for the broader system boundary.

No Japan FSA registration - Not a JVCEA member - FSA warning letters issued twice: 2023-03-31 / 2024-11-28

1. Corporate entity and shareholders

  • Corporate name: Bitget Limited
  • English name: Bitget Limited
  • Founded: 2018
  • Registered address: Republic of Singapore
  • Listing status: Unlisted, as a global private company
  • Parent / major shareholders: Not publicly disclosed

2. Licences and registration status

  • Japan crypto-asset exchange business: Unregistered; no FSA registration
  • JVCEA membership: Non-member, neither Type 1 nor Type 2
  • Principal regulators outside Japan: According to public information, the company states that it is pursuing compliance in multiple overseas jurisdictions, but no detailed jurisdiction-by-jurisdiction registration list is disclosed here
  • Japan FSA warning history:
    1. 2023-03-31First warning letter. The representative was listed as unknown. The warning was issued under the FSA administrative guidelines for crypto-asset exchange businesses, on the basis that the company was operating an unregistered crypto-asset exchange business targeting Japan-resident users.
    2. 2024-11-28Second warning letter. The representative was listed as Gracy Chen (CEO). The warning was issued on the same day as warning letters to KuCoin, bitcastle LLC, Bybit Fintech Limited, and MEXC Global, for a total of five entities.

3. Supported assets

  • Number of listed assets: More than 1,300, according to company materials in early 2026
  • Major assets: BTC, ETH, USDT, BNB, SOL, XRP, BGB, and others
  • Characteristics:
    • Broad listing policy covering altcoins and meme coins
    • Issues and operates its own native token, BGB
    • Operates the “LaunchX” listing launchpad for new project token sales

4. Business scope

  • Spot trading: Supported, with Maker 0.01% / Taker 0.01% according to the article, and up to 80% discounts for BGB holders
  • Futures / perpetual contracts (derivatives): Supported, with maximum leverage of 125x
  • Copy Trading: The company’s main differentiating feature. It allows users to mirror the positions of top traders automatically, and the company presents it as its strongest point of distinction
  • Crypto-asset lending: Supported
  • Web3 wallet: Operated under the separate brand “Bitget Wallet”, formerly BitKeep
  • Fiat deposit:
    • JPY deposits are not supported
    • Domestic bank-transfer deposits from Japan are unavailable; some card-based fiat deposit paths exist, but direct JPY funding is not available

5. Market position and trading volume

  • Derivatives trading volume: Ranked within the global top 4, according to company statements and secondary references such as CoinGecko
  • User count: In 2025-01, the company announced that it ranked second globally by total ecosystem users; specific figures are not disclosed here. Secondary reports also refer to 8 million+ users across 100+ countries.
  • BGB token: By the end of 2024, the price had risen to about $8, with an annual gain of 1,000%+ according to the 2025-01-23 company release
  • Client base: Primarily retail, especially users interested in copy trading; institutional investor and VIP services are also offered
  • Competitive positioning: In derivatives volume, it is described as a tier-2 global exchange behind Binance and OKX. Its copy-trading franchise is presented as a major differentiator. For other overseas unregistered exchanges warned by the FSA, see Bybit, MEXC, and KuCoin. For native-token strategy comparison, see CEX native-token strategy comparison.

6. History and major events

DateEvent
2018Bitget Limited was incorporated in Singapore
2022Its derivatives trading volume moved into the global top 5 in a more sustained way
2022It invested in the former BitKeep multi-chain wallet, which was later integrated and rebranded as Bitget Wallet
2023-03-31First Japan FSA warning letter: publicly identified as an operator of an unregistered crypto-asset exchange business, with the representative listed as “unknown”
2023Gracy Chen became CEO; the exact appointment month is not fixed here
2024-11-28Second Japan FSA warning letter: issued under the representative name Gracy Chen, on the same day as warnings to KuCoin, bitcastle LLC, Bybit Fintech Limited, and MEXC Global
2025-01-23The company announced that it ranked second globally by total exchange-ecosystem users
2025The company positioned expansion of the BGB ecosystem and PayFi integration as strategic priorities

Hacks / major incidents: Within the scope of public information used in this article, no major hacking incident attributable to the company itself is confirmed as of 2026-05-19.

7. Strategic developments

  • 2025 policy direction: The CEO highlighted three pillars: strengthening institutional and VIP services, expanding the BGB token ecosystem including PayFi, and improving security / compliance
  • Bitget Wallet (formerly BitKeep): Operated as a separate-brand self-custody Web3 wallet, while also linking to exchange-side DEX / DeFi bridging functions
  • Copy trading expansion: Ongoing expansion of supported asset classes, together with stronger trader certification and performance-disclosure systems
  • Japan market stance: The company states that it does not actively solicit Japan residents, but Japanese-language content remains abundant across its own domain. This article does not identify any FSA registration filing after the warning letters

8. Key persons

  • CEO: Gracy Chen - Publicly described as having more than 10 years of experience in business management, marketing, and investment. She is also described as an early investor in BitKeep, now Bitget Wallet, and as active in diversity-related efforts in the Web3 industry. She is the representative named in the FSA’s 2024-11 warning letter.
  • Founders: No specific founder names are treated as clearly disclosed in the public-information scope used here
  • Major shareholders: Not disclosed

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