Crypto: bitFlyer introduces its “Cooldown”
The measure has a fairly self-explanatory name: Cooldown. It applies to retail clients whose identity verification was completed less than 90 days earlier. Following certain bank deposits in yen, a portion of their crypto assets will temporarily be unable to leave bitFlyer for 48 hours.
The policy targets a sensitive point in the operation of centralized crypto exchanges. When a user buys bitcoin or another cryptocurrency on a platform, transferring it to an external wallet is generally the step at which the asset leaves the exchange’s control permanently.
bitFlyer is specifically seeking to slow that outflow for recently verified accounts.
The calculation does not automatically lock an entire portfolio. The amount subject to the Cooldown corresponds to JPY deposits made during the previous 48 hours, minus 100,000 JPY.
A client depositing 500,000 JPY would therefore have the equivalent of 400,000 JPY temporarily unavailable for transfer to an external crypto address. The first 100,000 JPY would remain available.
A deposit of 100,000 JPY or less will not trigger any restriction.
48 hours without blocking bitcoin purchases
The Cooldown will not prevent users from buying or selling crypto. Holding and receiving crypto, as well as making yen deposits and withdrawals, will also remain available.
The restriction therefore primarily concerns sending crypto outside the platform.
This distinction matters in fraud scenarios. When a scammer takes control of an account or persuades a victim to carry out a transaction, they often seek to convert the funds into crypto quickly and then transfer them to an address they control. An additional two days can create a window in which the victim, their bank or the platform detects the irregularity.
Japan already takes a particularly tightly regulated approach to digital transfers. BrefCrypto recently reported on how the country is simultaneously developing Bitcoin lending and a much more regulated crypto finance sector.
bitFlyer also applies the Travel Rule to certain transfers involving financial institutions and exchanges. Since July 2025, the platform has notably used a pre-screened list of approved destinations for several categories of transfers.
The Cooldown therefore adds another layer, this time based on the customer’s account age and the timing of the deposit.
Quick Deposits remain locked for seven days
Not all deposits will be subject to the new 48-hour regime.
“Quick Deposits” are excluded from the Cooldown because they already come with stricter rules. bitFlyer currently states that the equivalent of amounts deposited through certain rapid payment methods cannot be transferred for seven days, or 168 hours. This rule notably applies to deposits made via Pay-easy or certain partner retailers.
The platform explains in its official documentation that the seven-day restriction exists for security reasons. Trading remains possible during that period.
The new system is therefore more targeted. It is not designed to systematically lock users’ crypto for two days. Instead, it focuses on recently verified individual accounts and the portion of new deposits exceeding 100,000 JPY.
This approach highlights a persistent challenge for platforms. Too few controls make fraud easier. Too many restrictions make withdrawals burdensome for legitimate users.
The distinction is particularly important on a centralized exchange. As BrefCrypto has noted in several cases involving delayed or blocked crypto withdrawals, a technical limitation and a financial inability to return assets are not the same thing.
At bitFlyer, the rule is announced in advance, limited to a specific category of customers and governed by a defined formula.
From October 15, buying bitcoin a few minutes after making a deposit will still be possible. Sending it immediately outside bitFlyer, however, may require up to 48 hours.
