Japan’s FSA Reports a 36% Decrease in Cryptocurrency Related Enquiries in Q4 of 2018

Japan’s FSA Reports a 36% Decrease in Cryptocurrency Related Enquiries in Q4 of 2018
фото показано с : blokt.com

2019-2-8 16:49

The Japanese Financial Services Agency has noted a drop in the number of inquiries related to digital currencies.

The regulator noted that in the fourth quarter of 2018, they received 788 inquiries about Bitcoin and other cryptocurrencies as compared to 1,231 inquiries received in the third quarter of 2018.

Are People Less Interested in Bitcoin?

The FSA Counseling Office for Financial Services Users reported that it received fewer inquiries in the fourth quarter than the third quarter of 2018.

The latest figure is also much smaller than the 3,559 inquiries registered in the first quarter of 2018.

This shows a downward trend in the number of people asking about digital currencies in Japan.

The most common questions asked by people were general questions related to Bitcoin and cryptocurrency investing.

Last year Japanese regulators tightened the regulatory environment for digital currency exchanges in Japan.

The regulator went on to issue several business improvement orders, like the ones issued to GMO Internet Inc. for GMO Coin.

The company was instructed to create an effective risk management system.

What Else Did the FSA Say?

The FSA report stated that in the last quarter of 2018, the total number of inquiries related to investment products went up to 2,264.

In the previous quarter, the regulator received only 2,016 such cases.

Out of the 2,264 cases, 873 or 38% of cases were related to general question and inquiries.

During the last quarter, 465 cases or about 20% of cases were related to listed stocks while 203 cases or 9% were related to FX.

Another 178 cases or 7% were related to investment trusts.

There were about 227 cases concerning fraudulent investment solicitation, which includes 164 cases with claims related to damages suffered by investors

Japan’s FSA Reports a 36% Decrease in Cryptocurrency Related Enquiries in Q4 of 2018 was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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Источник: blokt.com

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