Regulation· ★★★· bearish·

IZAKA-YA Halts Service for Japanese Clients After FSA Warning

  • Japan's FSA issued a warning to IZAKA-YA on September 1 over unlicensed crypto activity
  • The service is ending registration and lending for Japanese residents, including Japanese nationals abroad
  • The Japanese version of the site will close at the end of September, with withdrawals via a special form
  • In August, users complained about being unable to withdraw, while 150% annual yield was being advertised
Why it matters: The case highlights the risk of high-yield unlicensed crypto lending: Japan's regulator has already stepped in, and clients may face problems withdrawing funds.
Source: CoinDesk Japan