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.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: November fails to impress, what about an action-filled December 2019?

Bitcoin is staring into a bottomless pit mid though the month of November. The past two years have seen Bitcoin start to stir movement upwards in November.

More Bitcoin News

The cryptocurrency market update: Bitcoin and major altcoins recover from early losses

The cryptocurrency market is navigating a sea of red on Friday. Bitcoin and all major altcoins are nursing losses both on a day-to-day basis and since the beginning of the day.

More Cryptocurrencies News

XRP/USD on the verge of a falling wedge pattern breakout

Ripple is trading below a key support week-long support at $0.27. The selling pressure on Thursday forced the price lower refreshing the levels towards $0.26. XRP commenced the trading on Friday at $0.2679 and touched a high of $0.2690.

More Ripple News

Litecoin price update: LTC/USD takes back $60 support, is $65 hurdle breakable?

Litecoin is in the middle of a recovery move following the recent slide below $60. The accrued gains chopping exercise that has been going on since the week started after another failed attempt to correct towards $65.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: In the middle of nowhere

Bitcoin has been drifting down since the beginning of the week, as the bulls have no luck with the recovery campaign launched during the previous weekend.

Read the weekly forecast

BTC

ETH

XRP