The Japanese Financial Services Agency (FSA) has been investigating a variety of cryptocurrency trading platforms to make sure they are following Japan’s digital currency regulatory policy. Just recently the FSA published a report stemming from their investigations that reveals a lot of statistics about how many cryptocurrency traders reside in Japan, and other types of demographic data.
Also read: Japan Revises Registration Rules for Cryptocurrency Exchanges
3.5 Million Japanese Cryptocurrency Traders
The FSA has just published data collected from roughly seventeen domestic virtual currency exchanges after investigating these businesses for possible AML/KYC regulatory transgressions. According to the data collected from all of these exchanges, there are over 3.5 million Japanese cryptocurrency traders that use these platforms. The most popular cryptocurrencies in Japan include BTC, ETH, XRP, BCH, and LTC.
Bitcoin and cryptocurrencies have become extremely popular in Japan. At the time of publication, the Japanese yen accounts for more than 60% of BTC global trade volumes.
The data gathered by the FSA is an accumulation of research compiled from a few years ago all the way up until March 31, 2018. The study explains that a majority of traders are between their 20s-30s while older traders above 40 participate in markets that offer features like margin trading. In fact, lending and margin trading added up to roughly $543Bn while traditional trades gathered $97Bn in 2017.
A large majority of the 3.5 million Japanese traders are between the ages of 20-30.
While the Yen Dominates Cryptocurrency Trade Volumes Regulators Make Sure Guidelines Are Being Followed
Japan has gained a competitive edge as far as adopting bitcoin and allowing cryptocurrency exchanges to flourish. Over the past eight months, the Japanese yen has dominated BTC trade volumes against other nation state-issued
