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As of August 2025, transactions with Bitcoin and Ethereum were offered by ** crypto-asset exchange service providers and financial instrument business operators in Japan, making them the most frequently offered coins. A total of *** different virtual coins were offered in Japan.

Cryptocurrency exchanges in Japan

Around ** cryptocurrency exchanges were registered with the Financial Services Agency (FSA), Japan’s financial market regulator. ***handled the largest number of coins, followed by *** and **.
Due to tight regulations regarding the launch of new cryptocurrencies, Japanese trading platforms often offer fewer coins than their international counterparts. To facilitate listings of the most common coins, such as Bitcoin and Ethereum, Japan’s self-regulatory body for the cryptocurrency industry, JVCEA, launched a green list of pre-approved tokens in 2022.

Hacking incidents have spurred tightened regulations

Japan is not only known for its early adoption of cryptocurrency, but also for being a forerunner in regulating the crypto industry. The first legal framework for the cryptocurrency industry was passed as early as 2016. Since then, the FSA has gradually tightened regulations. This is the result of two major hacking incidents at Mt. Gox and Coincheck in 2014 and 2018, in which crypto assets worth billions of yen were lost. Although the regulations are considered progressive, they are also believed to hinder the growth of the industry.