$2.37 -4.39%
ADA · 3w

What has Changed in Japan

This is a post to give a little more detail about Cardano in Japan. TLDR You could always buy ADA, but now the process is becoming smoother. Cryptocurrency is highly regulated in Japan. One difference between it and America is that exchanges here must keep all the assets for all the customers it has. I.e. no fractional reserve banking when it comes to crypto. Another rule is that only trading of approved currencies is allowed. It is a very short list. Also each individual exchange must request permission to trade that coin. The commonly allowed cryptocurrencies are Bitcoin, Ethereum, Litecoin, Stella and Bitcoin Cash. Although notably the Bitflier exchange has been successful in getting permission for a few others. These rules only apply to exchanges in Japan, and the government did not try to shut down international sites. Therefore it was always possible to buy ADA in Japan if you were determined. You would need to use one Japanese site as a fiat ramp, them convert it to Bitcoin, and last go to another site to buy ADA. Now, ADA has now been approved for one Japanese exchange (BitPoint). On this exchange you can convert ADA to yen and deposit / receive money to a Japanese bank account. ADA is still not available on most Japanese exchanges, including the one I use. This means that there is room for growth. It will gradually become easier to buy/sell ADA in Japan.
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