Is cryptocurrency recognized in Japan?

Since 2016, Japan has officially recognized crypto as a type of money for making payments. A bill introduced in Japanese parliament in March 2016 broadly addressed financial technologies, and specifically named virtual currency as part of this growing field.

What are the top 11 cryptocurrency exchanges in Japan?

In September 2017, 11 of them were registered: Money Partners, Quoine, Bitflyer, Bitbank, SBI VC Trade, GMO Coin, Huobi Japan (formerly Bittrade), Btcbox, Bitpoint Japan, Fisco Cryptocurrency Exchange, and Tech Bureau. Tech Bureau was acquired by Fisco after it was hacked in September 2018.

What does the PSA’s cryptocurrency regulation mean for Japan?

Finally, the PSA’s original cryptocurrency provisions allow Japanese cryptocurrency exchanges to create additional regulations for themselves through a self-regulatory association certified by the Japanese government. That role is filled by the Japan Virtual and Crypto Assets Exchange Association (JVCEA).

What happens if a cryptocurrency exchange opens in Japan without a license?

If the FSA finds any cryptocurrency exchanges operating in Japan without a license, it starts by issuing a warning, both directly to the company itself and publicly on its official website. Ongoing requirements for Japanese cryptocurrency exchanges.