Editor's Note: Original text fromCoingapeas well asBitcoinist、Medium,authorHIMADRI SAHA 、Vinnie Singh 、Venus Sie; Compiled by Odaily Qin Xiaofeng, please be sure to indicate the source when reprinting.
as well asXinhua News Agency,author
As the third largest economy in the world and one of the few developed countries in Asia, Japan has also fallen into a weak economy in recent years. according to
Xinhua News Agency
The emergence of blockchain and cryptocurrency was once considered the "savior" of the Japanese economy. Japan was also one of the first countries to announce the legalization of cryptocurrency, and has always aspired to become a leader in cryptocurrency.Japansecondary title
Official action continues
since this year,
JapanAnthony Pompliano At the same time, the issuance of Japanese cryptocurrency trading licenses has accelerated. First, on January 11, Coincheck obtained a formal transaction issued by the Financial Services Agency; two months later, two more platforms obtained licenses.
Japan’s Financial Services Agency (FSA) has said: “Since March last year, more than 140 cryptocurrency operators have expressed interest in entering the Japanese market.”
Most recently, Morgan Creek Digital co-founder and partner
The document stated that the Japan Financial Services Agency is a staunch supporter of cryptocurrencies and the Lightning Network (LN).
(The picture above is FSA Commissioner Endo Toshihide, Anthony Pompliano, FSA Financial Innovation Director Miwa Jumpei)
Talking to the FSA, Pomp said: “They (FSA) have a fairly clear regulatory framework, and they want to see Bitcoin/LN succeed. They think the open web will win, and Japan wants to be the leader in terms of adoption of these two technologies.” world leader."
In addition to Japanese officials being optimistic about cryptocurrencies, Japanese companies are also actively embracing this new thing. Bic Camera, Japan’s largest electronics retailer, has been accepting bitcoin payments for over a year.
secondary titlea reportDecreased public interest
However, under the prosperous and prosperous scene, there is also a hint of crisis hidden.
Japan's Financial Services Agency's recentlonghash.com a report
In fact, the number of inquiries related to cryptocurrencies has been declining since last year. In the second quarter of 2018, the number of cryptocurrency inquiries was 1,602; in the third quarter of 2018, it fell to 1,231; in the fourth quarter of 2018, this number dropped further to 788.
Additionally, the JPY/BTC ratio is significantly less traded compared to 6 months ago. according to
According to data from February 2019, the yen accounted for 50% of all fiat currency transactions; today, the yen accounts for only 17.55%. In contrast, the US dollar accounted for nearly 73%.
The above-mentioned changes can indicate that Japanese people’s interest in cryptocurrencies may be decreasing, and the hype around cryptocurrencies in Japan is cooling down.
secondary title
reason behind
According to the analysis, the reasons for the decline in Japanese public interest may be related to two aspects.
One is related to hot events of cryptocurrencies. In particular, Bakkt is about to be launched, and the reaction of the US dollar market is far greater than that of the East Asian market. Institutional users all enter the market through US dollars, thus changing the original payment pattern.
