Japan's Financial Services Agency (FSA) has recently published a statistics report into cryptocurrency. The report was commissioned by the FSA, and completed by the Japanese Cryptocurrency Business Association (JCBA) which has 17 exchanges and used data generated in 2017.
According to the report, Japan currently has 3.5 million active investors who are all domestically purchasing cryptocurrencies.
In 2017, Bitcoin annual trade volumes accounted to $97bln when compared to $22mln in 2014, which means that Japan has now become the largest market for trading cryptocurrency.
Japan is the largest Bitcoin exchange market with reports that up-to 50.75% is managed domestically, and according to an article published by Cointelegraph, China only accounts for 6.4% global
Alternative trading methods, such as margins, credit and futures accounted for $543 bln in 2017, when compared to 2mln in 2014.
The Japanese crypto market is currently being reviewed by the regulator, and after the Coincheck hack which resulted in $530 Mln in losses, the regulator has placed new stringing rules in place in order to govern the sector. Several exchanges have been shut down, while others have received orders to improve.