Crypto News: Japan Emerges as the World’s Foremost Hotbed of Bitcoin Trading

According to recent data on Cryptocompare, Japan controls 59.77% of the global trading volume. This is over double the bitcoin trading volume conducted in the United States. Currently, the US does 25.97% of bitcoin trading. Japan’s rapid ascent as a bitcoin trading hotbed comes as no surprise, though. The country was poised to adopt this role.

One of the primary reasons for Japan’s major appearance on the scene is because of its pro-cryptocurrency attitude. The country has been building its crypto-asset infrastructure for awhile, especially since its government has taken a positive stance on bitcoin. The country was one of the first to fully embrace digital currencies by making bitcoin a nationally legal currency last April.

Furthermore, the country just endorsed 11 different cryptocurrency exchanges, including the largest, Bitflyer. They licensed the exchanges with practical and understandable legal framework, making their operations painless and non-burdensome. News.Bitcoin.com covered the story when it broke:

"Japan’s Financial Services Agency (FSA) announced they are endorsing 11 different cryptocurrency exchanges. This sets Japan on a path to becoming the headquarters for everything Bitcoin, especially since China recently crippled their crypto market by banning exchanges. This means Japan now represents one of the most cryptocurrency-friendly countries in Asia. 

Full story at http://bit.ly/2yIYImK

Source: Bitcoin News

 

 

 

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