On Friday, it was reported that the FSA issued a warning under the Payment Services Act (PSA) and is assertively requesting that both Google and Apple remove the crypto trading platform’s applications from Apple’s App Store and Google Play.

Nikkei’s report revealed that the centralized crypto exchanges in question reportedly include MEXC, Bybit, Kucoin, Bitget, and Lbank. The FSA warning reportedly indicates that these businesses are unregistered exchanges in violation of the PSA.

The PSA policy establishes a regulatory framework for payment services, encompassing prepaid payment instruments, fund transfer services and crypto asset exchanges. Under the PSA, businesses offering these services are required to register with the FSA, and failure to comply constitutes a breach of the law.

Nikkei’s report discloses that Apple has already removed the crypto exchange apps in the country. The editorial added that, at the time of reporting, Google had not responded to the FSA request. Unregistered digital currency exchanges engaging in activities such as crypto-asset transactions or fund transfers without proper FSA registration can face penalties.

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