Whenever I read about an Exchange that closes its doors, it is usually some Exchange that I had never heard of, but this time it was different, I opened the Livecoins website and another post like this followed, "Cryptocurrency broker closes down activities and asks Apologies to customers" and when I read it I saw that it was the GATE.io Exchange, well known to everyone in the cryptocurrency industry.

    The Exchange alleges regulatory pressure by the Japanese government 

   The fact that Exchange closed its activities in Japan took Japanese customers by surprise, an Exchange publication says that it has always worked in accordance with the regulations of the countries in which it operates.

    This was the note published by Gate.io translated from Japanese:

 "As one of the world's leading cryptocurrency exchanges, we strive to comply with financial regulations in all jurisdictions in which we operate. Based on this commitment, we regret to inform you that we will discontinue our services in Japan. Effective July 22, 2024 , our company will no longer open new accounts for residents of Japan“,

   As you can see, this announcement was yesterday and as of yesterday they are no longer accepting customers, what makes it clear is that precisely because they did what the authorities asked was the reason for the closure.

   Exchange also released this note to users:

 "We apologize for any inconvenience this may cause users residing in and using the service in Japan and ask for your continued support. We continue to cooperate with financial regulators in all jurisdictions in which we operate to ensure compliance"

     Exchange Gate.io has made it very clear that no customers will be harmed.

   Source: Livecoins