Japan's Financial Services Agency has released domestic cryptocurrency trading statistics for the first time.
According to data gathered from 17 cryptocurrency exchanges operated in Japan, the country has at least 3.5 million users that are trading with cryptocurrencies as actual assets.
The major share of crypto investors is in their 20s, 30s, and 40s, accounting for 28, 34, and 22 percent, respectively, of the total crypto trader population in Japan.
According to the FSA's data, yearly trading volume of the actual Bitcoin (TIKER: BTC.EXANTE) cryptocurrency has grown from $22 million in 2014 to $97 billion in 2017.
Statistics confirms that Japan has emerged as the top global player in cryptocurrency market development. Japan’s solid legal system has supported the blockchain industry in establishing credibility among individual investors and thus pushed the country to the top position.
However, according to the FSA, the study and disclosure of the domestic trading statistics is the first step towards a more comprehensive examination of institutional issues in the cryptocurrency trading space in Japan.
By Ksenia Batanova