As Japan Cranks Up Crypto Rules, Africa Leaps into Stablecoin Future

Bybit, one of the world's largest cryptocurrency exchanges, has announced it will suspend new user registrations for its Japanese platform starting October 31, 2025, in response to heightened regulatory scrutiny from Japan's Financial Services Agency (FSA). The move underscores the growing pressure on global crypto exchanges to comply with stricter investor protection rules in one of the most regulated markets for digital assets. Bybit emphasized that the pause is a temporary measure to align with FSA requirements, allowing the company to review and adjust its operations to meet local standards, according to a LiveBitcoinNews report.

The decision reflects a broader trend of regulatory tightening in Japan, where authorities have increasingly focused on curbing risks associated with unregistered platforms. The FSA issued warnings to Bybit in 2021 and 2023 over its lack of proper local registration, and the latest action appears to be a direct response to these pressures. Bybit stated that existing Japanese users will continue to access services without disruption, but new account creation will be restricted until the exchange achieves full compliance. This aligns with Japan's broader push to integrate digital assets under its securities law regime, a process that has intensified since 2023, as noted in the LiveBitcoinNews report.

Meanwhile, in a separate but equally significant development, African fintech giant Flutterwave has partnered with blockchain infrastructure provider Polygon to launch a stablecoin-based cross-border payment system. The collaboration aims to leverage Polygon's low-cost, high-speed blockchain network to reduce transaction fees and delays for businesses and consumers in Africa, where traditional remittances often incur fees exceeding 7%. Flutterwave CEO Olugbenga Agboola highlighted the potential for stablecoins to revolutionize Africa's financial ecosystem, stating that the integration would enable real-time, cost-effective international transactions, according to a CoinDesk report.

The pilot phase of the initiative, set to begin later this year, will initially target enterprise clients such as Uber and Audiomack, with plans to expand to consumer remittances through Flutterwave's Send App in 2026. The move is part of a global shift toward blockchain-based solutions for cross-border payments, with stablecoins offering a hedge against currency volatility and high fees. A 2024 Chainalysis report found that stablecoin remittances in Sub-Saharan Africa were 60% cheaper than traditional methods, a trend that Flutterwave and Polygon aim to amplify across the continent, as described in the CoinDesk report.