Cryptocurrency exchange HitBTC has suspended work with the residents of Japan. This is stated on the official website of the organization in the legal section.

Users with Japanese IP addresses will be required to undergo KYC procedure to prove that they are not residents of Japan.

“You may not use our services if you are a resident of or are going to become a resident of the state or region where HitBTC has no right to work. In accordance with Japan’s Law on payment services, HitBTC has temporarily suspended the provision of services for residents of Japan”, — stated in section “Limitation of services”.

Later on Sunday, the stock exchange has posted a notice, confirming that the new rules “will only apply to those who live in Japan.”

Earlier, the company Karma Group has filed a lawsuit against the HitBTC exchange in a Hong Kong court that, according to the plaintiff, without explanation, did not fulfil the requirements for the listing of the tokens Karma (KRM).