PANews reported on March 27th that, according to Cointelegraph, Japan's Financial Services Agency (FSA) has issued warning letters to several companies, including KuCoin, for engaging in over-the-counter (OTC) derivatives trading without registration. The FSA stated in its latest list that KuCoin, NeonFX, theoption, and GTCFX received notifications in March for "soliciting OTC derivatives trading via the internet." KuCoin, headquartered in Seychelles, is listed as providing services to Japanese residents. The FSA previously issued similar warnings to exchanges such as KuCoin and Bybit in November 2024 and requested Apple and Google to suspend downloads of the KuCoin app in February 2025.