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Japanese Regulator Sees Spike in Cryptocurrency Queries


According to numbers disclosed by the Financial Services Agency’s (FSA) Counseling Office for Financial Services Users on Friday, the authority fielded a total of 3,559 enquiries about cryptocurrencies during Q1 2018. That figure is up over 3 times from that of the final quarter of 2017 with a total of 1,141 enquiries at the time, underlining the frenetic growth in interest in cryptocurrencies.

36 percent of the total inquiries related to general questions whereas 29 percent, a little over 1,000 queries related to their administration (regulation). A further 23 percent of those questions pertained to specific crypto-related transactions and individual contracts.

While consumers in their 40s and 50s dominated the pool with 510 and 488 cases, respectively, those in their 60s, 20s and over-70s were close behind with 410, 382, and 310 cases, respectively.

The numbers represent a similar growth trend in consumers’ interest in cryptocurrencies, as revealed during a recent cryptocurrency exchange study group meeting hosted by the FSA in late April this year.

The latest data comes after the released statistics FSA for the first time on Japanese crypto trading after a meeting with 17 domestic cryptocurrency exchanges earlier this month.

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