Japanese FSA releases the first ever report on the crypto market state
The cryptocurrency market of Japan has been assessed by one of the most powerful financial organizations of this country. The report composed by the Financial Service Agency employees tells about various aspects of the digital economy. It is worth mentioning that such a report has been made for the first time.
Three million individuals are operating with cryptocurrency assets in Japan. The majority of them (34%) is in 30s, while people from 20 to 29 years old make 28%. The last of the three main generations are those who are 40-50 years old (22%).
This somewhat shatters the popular stereotype about millennials being the locomotive of the cryptocurrency economy. Evidently, they play a big role, but there is also a huge part of those traders who are actually older than this generation.
The trade volume growth over the years is another very noteworthy point of the research by the FSA. As the agency tells, on 31 March 2014 the trade volume of Bitcoin was $22 million and in 2017, the volume has grown to $97 bln.
After the hack of Coincheck, the Japanese authorities have started to pay more attention to the digital currency market and this report might actually be a part of this policy shift.
Image courtesy of Wikimedia Foundation
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