Cash?, Japan is "crazy" in the crypto

Japanese investors are "crazy" about crypto, but they still say that they still love the money. Deutsche Bank global finance strategist Massa Muratsi quoted a Nikkei report stating that 40% of all Bitcoin trade from October to November was made through yen. According to the Japan Times, this represents more than 56% of all transactions with Bitcoin.

Legal system

Japan was one of the first nations in the world to define crypto as a legal tender. Investment analyst Nicholas Smith wrote:

"While neighboring countries such as China and Korea are trying to close stock exchanges and stop crypto, in April 2017, Japan adopted a law that crypto is a legal tender. The result is that China, which dominated the trade with Bitcoin, dropped out of the map, and Japan became the number one in the world of the Crypto. "

Today, Japan has one of the largest crypto-exchanges in the world, but the news from one of these exchanges was not at all positive. Although Coincheck decided to restore NEM coins to the victims, a huge wave of FUD news spread in the mainstream media.

Japan has a robust legal system to support the industry. The goal is to build trust among traders and investors. Midori Kunimitsu, who is the Chief Financial Officer of the largest Japanese Crypto-Currency exchange, BitFlyer, said:

"Effectively, Japan is the first and only country to have an appropriate legal system regulating trade in crypto. This is great progress. Before the law regulating the crypto, people were worried about what would happen to their money if anything happened to the exchange. "

###Crypto Automatization
Japan still loves the sour money. According to analysts, 62% of consumer transactions are made in cash. Japan has more ATMs and bank branches than in many other countries. This may also bring something positive about crypto, as ATMs are popular in many other countries, such as Singapore. Prime Minister Shinzo Abe's economic plan focuses on promoting Fintech. His government aims to revoke the start-up regulations of the Fintech company to promote growth and industry adaptation. Crypto may be a big part of this. In recent months, crypto-banks have also entered the banking sector thanks to companies such as SBI Ripple Asia. Despite the spread of FUD by Western media, Japan is still on its way to lead Fintech and the adaptation of crypto.

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