Japan, it’s the country most associated with cryptocurrency. Not only is Japan potentially the birthplace of the blockchain, Japan is one of the few countries at the moment with a clear plan for how they wish to integrate cryptocurrency in their future.
The movements by Japanese authorities are clearly paying off. The country looks to be moving into the blockchain revolution at an alarming rate and many people do expect cryptocurrency adoption to take hold in Japan much sooner than the rest of the world.
Now a new report out by the Japanese Consumer Affairs Agency (CAA) seems to suggest that not only are the government and the authorities behind this, so are the citizens.
The Financial Standards Agency in Japan (FSA) have been conducting research into cryptocurrency, to compliment their own going regulatory moves that are seeing customers experience within cryptocurrency exchanges improve greatly. Not only in terms of direct exchange use, but also in the terms of safety and security of assets.
During this, the FSA have reported that a total of “2769 domestic enquiries” were placed into the CAA referring to cryptocurrencies specifically. Sure, these enquiries are based upon concerns and queries that people have regarding cryptocurrencies, however, either way it proves that more and more people are talking about cryptocurrencies and indeed, are wanting to find out more about them,
According to the FSA, this figure of 2769 in 2017, is up massively from 847 enquiries as recorded in 2016 and as little at 186 during 2014.
I see this as very positive news. The more people that get involved in cryptocurrency, the more likely adoption is right? With Japan looking to spearhead this move, these figures confirm that their citizens are indeed talking about cryptocurrency and are interested in it.
As I have mentioned, the enquiries will be based upon concerns. However, as we know the FSA are making great efforts in Japan to ensure that the crypto-sphere is made safer, therefore with this in mind and with an increase in enquiries, the CAA have the chance to better advise people and in turn, encourage people to do further research that may, all in all, lead them into involvement with cryptocurrencies themselves, improving the chances of adoption in Japan massively.
This news may seem insignificant now, but the bigger picture is this. More people in Japan want to know about cryptocurrencies. Japan is at the forefront of blockchain technology and positive crypto-regulation. Each piece of positive news coming from the region, cements the likelihood of cryptocurrency adoption, which in turn will drive up the value of currencies like Bitcoin Cash and Ripple, who strive for real world adoption.
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