Japanese Regulators Report Tripling of Cryptocurrency Enquiries

DATA recently released by Japan’s Consumer Affairs Agency (CAA) shows that consumers filed three times as many enquiries on the topic of cryptocurrency trading and ICO’s in 2017.

The numbers were published on April 27 by a cryptocurrency exchange study group, the meeting was hosted by Japans Finical Services agency (FSA). The data gives an insight into the countries rising interest in cyrptocurrencies.

According to the FSA there were a total of 2,769 domestic enquiries filed in 2017 by general consumers on the topic of cryptocurrencies. When compared to the same data from previous 2017 marks a notable spike in interest.

2016 saw 847, 440 in 2015 and 186 in 2014. the combined total of previous years data reaches about half of what was seen in 2017.

Many of the enquiries were concerned about the security of trading platforms and the legality of initial coin offerings. The spread of concern for 2017 appears to cover a wide range of age groups.

Those in their 40s and 50s were the most represented with 510 and 488 cases, whereas those in their 60s, 20s and 70+ were represented less within the data.

This is not the first news on growing adoption from Japan the country has at the very least 3.5 million cryptocurrency investors, the majority of which are in there 20s, 30s and 40s.

This is followed by the acceptance of Bitcoin and other cryptocurrencies as a legally accepted means of payment approved by the FSA. Japan is fast becoming one of the leaders in cryptocurrency adoption on the world stage and this recent news is a testament to that.

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