Japan is home to 3.5 million cryptocurrency traders: The Financial Services Agency reveals
- The statistics show that 84% of all cryptocurrency investors in Japan are between the ages of twenty and thirty-five.
- The FSA published the report to exemplify the transparency that is required in the cryptocurrency market.
The government of Japan chose to regulate cryptocurrencies and support their growth under regulations implemented by the Financial Services Agency (FSA) as opposed to banning them entirely like in China and recently India. The FSA has, therefore, released statistics of the cryptocurrency market in the country.
The data that has been collected for some time now shows that there are approximately 3.5 million active crypto traders in Japan. The statistics show that 84% of all cryptocurrency investors in Japan are between the ages of twenty and thirty-five. Consequently, the FSA revealed that more traders are taking part in cryptocurrency market futures, where trading Bitcoin futures grew from $2 million to $543 billion in 2017.
The FSA published the report to exemplify the transparency that is required in the cryptocurrency market. Especially after the Coincheck hack earlier in the year where $530 million worth of NEM cryptocurrency was lost. Coincheck cryptocurrency exchange has, however, entered a takeover deal by Monex, an online financial guru based in Japan.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
