What is a crypto asset (virtual currency)?

“Cryptocurrency (Virtual Currency)” is an asset exchangeable on the Internet and is defined in the “Capital Reconciliation Law” as the following assets.

(1) It can be used for payment of payments to unspecified persons, and can be exchanged with legal tender (Japanese yen, US dollars, etc.).
(2) Electronically recorded and transferable
(3) Not legal tender or legal tender-denominated assets (prepaid cards, etc.)
Typical crypto assets include Bitcoin and Ethereum.
Cryptocurrency assets have attracted a great deal of attention as a mechanism for exchanging property values without going through a third party such as a bank.

Generally, crypto-assets can be obtained and exchanged from businesses (cryptocurrency exchange companies) called "exchanges" or "exchanges". Cryptocurrency exchange business can only be carried out by businesses registered by the Financial Services Agency / Finance Bureau.

Cryptocurrencies are not fiat currencies issued by the government or its central bank. In addition, since cryptocurrency assets do not have reserve assets, they tend to fluctuate significantly due to various factors such as the supply and demand ratio of users.

In addition, there are many reports of fraud related to crypto-assets, so be careful. For details, please see "Please be careful about troubles related to crypto-assets! "From the Financial Services Agency, the Consumer Agency, the National Police Agency (available at the link below).