On December 23rd, according to the cryptocurrency trading platform Gate.io and the Japanese Financial Services Agency, Gate Group announced that its Singapore entity, Gate Information PTE. LTD. (CEO: Lin Han), has successfully acquired all the issued shares of Coin Master Co., Ltd., a Japanese cryptocurrency trading service provider. At the same time, Coin Master Co., Ltd. has been renamed Gate Japan Co., Ltd. effective immediately. Gate.io issued a statement on July 22nd, 2024, announcing that it has stopped opening new accounts for users residing in Japan and will gradually terminate its global services for Japanese users. However, through the acquisition of Coin Master Co., Ltd., Gate Group hopes to provide exclusive digital asset trading platform services that comply with local regulations for Japanese users in the future, further promoting the localization of its business in the Japanese market.