Japan

4.0% of Japanese own cryptocurrency

How many cryptocurrencies owners are there in Japan?

It is estimated that over 5 million people, 4.0% of Japan’s total population, currently own cryptocurrency.(¹)

Cryptocurrencies Market Sentiment in Japan

Japan has been at the forefront of the cryptocurrency revolution, with a favorable regulatory environment and strong support from both government and the financial sector. The country was one of the first to recognize cryptocurrencies as a means of payment and has been working to create a supportive environment for the cryptocurrencies industry to flourish (2).

In terms of adoption, Japan has one of the highest rates of cryptocurrency ownership and usage in the world. Major retail chains and online platforms such as Recruit Lifestyle and Bic Camera (3) accept cryptocurrencies as a form of payment, and there are numerous cryptocurrencies exchanges operating in the country (4) such as bitFlyer, Coincheck, and Bitbank.

The Japanese government has taken a proactive approach to regulate the cryptocurrencies market, with the Financial Services Agency (FSA) implementing measures to protect investors and prevent money laundering and other illicit activities (5). This has contributed to a stable and secure environment for cryptocurrencies trading and investment in Japan.

Cryptocurrencies’s rising popularity in Japan

• Japan Urges Regulators Worldwide to Subject Cryptocurrencies Exchanges to Bank-Level Oversight – Feb 2023
  Japan’s Financial Services Agency (FSA), the country’s top financial regulator, has urged regulators globally to subject cryptocurrency exchanges to bank-level regulations.

• How Japan’s ‘trusted web’ could improve digital governance – Jan 2023
  The Japanese government is developing a new system for digital governance known as the ‘trusted web’. This shares some of the democratizing elements of Web3, but prioritizes trust and verification of information. The trusted web could offer a way to govern the internet transparently and safely, without the downsides associated with over-concentration of power.