Is cryptocurrency legal in Japan?

Japan legalized cryptocurrencies as a means of payment under the amended Payment Services Act back in April 2017 and crypto exchange operators are required to register with the FSA. The agency started registering them in September 2017.

Why are cryptocurrencies so popular in Japan?

Experts explain the surge in interest in cryptocurrencies in Japan by a number of factors: the existence of legal regulation of cryptocurrency exchanges (by the Financial Services Agency) since 2016… Open in app Home Notifications Lists Stories Write Published in The Capital IMBA-Exchange Follow Mar 2, 2021 9 min read Save Cryptocurrencies In Japan

What is cryptocurrency and how does it work?

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet, which lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired, while others will require you to have your own wallet at the time of purchase. However, using an exchange for long-term storage is not recommended.

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.