On December 23, according to announcements today by crypto asset trading platform Gate.io and the Financial Services Agency of Japan, Gate Group announced that its Singapore legal person Gate Information PTE. LTD. (CEO: Lin Han) has successfully acquired all issued shares of Coin Master Co., Ltd., a Japanese crypto asset trading service provider. At the same time, Coin Master Co., Ltd. will change its name to Gate Japan Co., Ltd. from now on. Gate.io issued a statement on July 22, 2024 that it has stopped opening new accounts for users living in Japan since that day and has gradually terminated global services for users in Japan. However, through this acquisition of Coin Master Co., Ltd., Gate Group hopes to provide domestic users in Japan with exclusive digital asset trading platform services that comply with local regulations in the future, further promoting localized business expansion in the Japanese market.