Japan's bitFlyer to Partially Restrict External Crypto Transfers for 48 Hours After Deposits Starting Oct. 15

bitFlyer, Japan's largest cryptocurrency exchange, announced on Oct. 2 that it will introduce a new "cool-down" measure starting Oct. 15 that partially restricts external transfers of crypto assets for 48 hours after Japanese yen deposits. The policy aims to prevent fraud losses and illicit fund transfers, targeting individual users who completed identity verification less than 90 days ago.

Under the new system, when eligible users deposit Japanese yen, they will be unable to send crypto assets equivalent to the total deposit amount (excluding fees) minus ¥100,000 (approximately $630) to external addresses for 48 hours after the deposit. If the total deposit is ¥100,000 or less, no restriction applies.

For deposits made in multiple installments, a 48-hour cool-down period applies to each individual deposit, with restrictions lifted sequentially as each period expires. Existing account holders are also subject to the measure if they completed identity verification less than 90 days ago.

During the cool-down period, yen deposits and withdrawals, crypto asset trading, holding, and receiving remain available as usual. The restriction is limited to external transfers, designed to minimize impact on normal trading activity. Deposits made via quick deposit are excluded from the cool-down since they are already subject to a separate 7-day transfer restriction.