IZAKA-YA to Cease Services for Japanese Residents Following FSA Warning

Izakaya Limited, the operator of the crypto lending and wallet service IZAKA-YA, announced on September 17 that it will terminate services for all users residing in Japan, including Japanese nationals living abroad, in response to a warning issued by the Financial Services Agency (FSA) on September 1. The company is halting new registrations and lending applications, and the Japanese website will be taken down at the end of September. While withdrawal procedures remain available, the company has not provided a specific timeline for completion and is requiring extensive documentation for identity and source-of-funds verification. The service had previously faced user complaints regarding withdrawal issues and scrutiny over its high-yield promotional campaigns.