Japan’s FSA marks steep drop in enquiries about virtual currencies in Q2 2018

Maria Nikolova

There were 1,602 enquiries registered in the quarter to end-June, compared to 3,559 in the preceding quarter.

Cryptocurrency hype is gradually subsiding in many regions, as already indicated by a number of brokers like IG Group and Plus500. We may be witnessing the same trend in Japan, as the volume of virtual currency enquiries handled by Japan’s Financial Services Agency (FSA) in the second quarter of the year markedly declined from the preceding quarter.

According to the latest numbers, published earlier today by the FSA Counselling Office for Financial Services Users, humble 1,602 enquiries about virtual currencies were received in the quarter to June 30, 2018. This compares to 3,559 such enquiries received in the first three months of 2018.

There were 607 general questions and enquiries (38% of the total), as well as 449 (28%) of questions about individual transactions and contracts.

The FSA did not explain the change in public mood about cryptocurrency. Let’s note, however, that the Japanese authorities have been rather active in their sanctioning of virtual currency exchange providers that fail to meet regulatory requirements. There have been a number of business improvement orders issued by the Japanese authorities over the past several months. Moreover, in early June, the FSA announced it denied the registration of virtual currency exchange business FSHO Co., Ltd. The company falls into the category “a corporation that has not established a system to properly and reliably carry out virtual currency exchange activities”.

In the April-June quarter, the FSA received 2,231 enquiries about investment products, slightly up from the preceding quarter. Across products there were 377 cases (17%) concerning listed shares, 340 cases (15%) concerning FX, and 170 cases (8%) concerning investment trusts.

There were also 138 fraudulent investment solicitation issues, 86 of which included reports of damage.

Read this next


Top Crypto Millionaire Picks: ETH, SOL, BLP

The market is buzzing with the arrival of a new bull run, and savvy investors are closely watching certain cryptocurrencies that show promise for substantial returns.


Influencer Examines BlockDAG Advances as Presale Hits $27.7M Amid Updates on Solana Transaction Fees and Injective (INJ) Price

Discover what famous YouTube influencer CryptoDexWorld has to say about BlockDAG’s presale performance and mining capabilities. More on Solana Transaction Fees and Injective (INJ) Price Updates.


Discover the Best Altcoins to Buy: Exploring Near Protocol, Cardano, and BlockDAG’s 30,000x Potential

Explore top altcoins like Near Protocol, and Cardano, and discover BlockDAG’s massive potential. Join us!


Crypto Influencer Crypto Rick Endorses BlockDAG Amid $27.7M Presale Success; TRON Price & BCH See Surge

Crypto Rick endorses BlockDAG, boosting its $27.7M presale amid TRON and Bitcoin Cash surges. Explore why BlockDAG is a top crypto investment.


These Altcoins Have The Potential To Make You a Millionaire in 2024

The crypto market is witnessing a surge, and certain alternate coins are catching attention for their rapid growth.

Digital Assets

Point72 invests $77.5 million in Bitcoin, Morgan Stanley holds $269.9 million

Point72, the $34 billion hedge fund owned by billionaire and New York Mets owner Steven Cohen, held $77.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter, according to a recent filing.

Digital Assets

Binance claims Nigerian officials sought $150 million bribe

A Nigerian court has ruled that Tigran Gambaryan, a Binance executive detained on charges of tax evasion and money laundering, can stand trial on behalf of the world’s largest cryptocurrency exchange.

Digital Assets

Kraken reviews Tether listing in Europe ahead of MiCA adoption

Cryptocurrency exchange Kraken is “actively reviewing” whether to delist the stablecoin Tether (USDT) from its European platform, according to a report by Bloomberg.


Discover How MoonBag Coin Presale Stacks Up Against Dogecoin & Litecoin

Discover how the MoonBag Coin presale compares to Dogecoin and Litecoin, with unique features, a robust presale structure, and new opportunities in 2024.