• Mon, 15 Jul 2019, 06:29 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Japan reports 170% spike in crypto-related consumer inquiries in 2018

“Bitcoin in Japan” by Marco Verch is licensed under CC BY 2.0

Wed, 19 Jun 2019, 03:07 am UTC

Japan’s Consumer Affairs Agency (CAA) has reported that it received an incessant number of queries related to cryptocurrency exchanges.

According to the report it submitted to the Cabinet Office, the year 2018 saw a 170% uptick in crypto-related queries.

The CAA revealed that most of the questions or concerns raised were regarding the crypto exchanges’ credibility and reliability, refund requests, security-related matters, anonymity concerns, login and payment processing technical difficulties, and inapproachable crypto-vendors.

Some 3,657 cases of consumer queries on crypto exchanges were recorded in 2018. While the year 2017 also showed an increased crypto-related queries growth rate, Cointelegraph Japan noted that the interest in digital money has not slowed down since 2014.

The CAA is the administrative authority of the Cabinet Office that is dedicated towards consumer welfare and protection. Although the Whitepaper on Consumer Affairs for 2018 was recently translated to English, the 2019 English version is yet to be released.

The analysis came after Japanese tax authorities plan to take action against entities underreporting their cryptocurrency-based profits, a move that will affect some 50 traders and 30 firms in the country that failed to declare cryptocurrency income worth more than 10 billion yen ($92.4 million).

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,640.00 (+0.74%)
  • Ethereum (ETH) $231.11 (-2.73%)
  • XRP (XRP) $0.316700 (+0.78%)
  • Litecoin (LTC) $91.04 (+0.73%)
  • Bitcoin Cash (BCH) $316.86 (+2.25%)
  • Bitcoin (BTC) $10,640.00 (+0.74%)
Jul 15, 2019 (Monday)
13:14
Crypto Technicals: XRP/USD extends weakness below 200-DMA, on track to test trendline support at 0.28
13:10
Draft of India’s cryptocurrency ban bill surfaces online
11:57
Shinhan Card patents blockchain-based system with credit card functionality
11:12
IOTA, MOBI, SAP, Deutsche Telekom and others join Convergence Alliance focused blockchain, AI, IoT
11:12
Crypto Technicals: LTC/USD pauses downside at 84 handle, bias still bearish
10:28
Crypto Technicals: BTC/USD holds support at 55-EMA (9854), break below will see further weakness
10:15
Enterprise blockchain firm R3 eyes IPO: Report
09:36
Bank of Thailand reviews blockchain applications in multiple areas
08:51
PayFast to stop accepting Bitcoin as payment method due to high fees, slow process time
07:17
U.S. lawmakers seek to prevent big tech companies from offering cryptocurrencies
06:03
Georgia VAT-exempts cryptocurrencies
05:50
Bitpoint Japan finds part of stolen cryptocurrency
05:02
South Korean companies team up to build blockchain-based identification system
Jul 12, 2019 (Friday)
11:40
Litecoin becomes official cryptocurrency of American football team Miami Dolphins
10:48
Crypto Technicals: Ripple breaks below 200-DMA, opens up further downside
10:40
Japanese cryptocurrency exchange Bitpoint loses $32M to hackers
09:40
US Election Commission to approve Congressional candidate's Ethereum token giveaway plans
09:16
HSBC reduces transaction time by 12 Days using Voltron blockchain platform
09:07
Amazon, Deloitte, Fidelity support IDEO CoLab's free blockchain accelerator program
09:05
Turkey considers developing central bank digital currency
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft