BitMex , one of the world's largest exchanges , will execute the new regulatory orders and close its services to all Japanese traders . Starting May 1 , Japan will apply the new regulations in the crypto ecosystem .

According to the Exchange , the new restrictions are "in response to the amendments to Japan's Financial and Exchange Instruments Act and Japan's Payment Services Act effective as of May 1, 2020."

The  government of Japan  announced in early April the delay in the entry into force of the Payment Services Law (PSA) and the Financial Instruments and Exchanges Law (FIEA) , both approved last year by the Japanese House of Representatives . The official government bulletin released last Friday confirmed that regulations on any crypto assets and fund acquisition transactions will apply next month .

"A user residing in Japan who registers on the BitMEX platform for the first time will not be able to trade and existing registered customers who are resident in Japan will not be able to place orders that would open a new position or augment an existing one," the statement explained.  

Finally, the BitMEX announcement adds: "We will continue to work with the Japanese regulatory authorities to support their goals for the Japanese market and keep our Japanese users up to date."