Virtual currency has developed globally today, and countries around the world have more or less involved, especially Japan. In the autumn of 2017, the trading between yen and bitcoin accounted for more than half of the world’s. Even in mid-January 2018, the trading of yen to bitcoin accounted for 30% of the world’s market, ranking after the trading of bitcoin to usd
Japanese people are interested in virtual currency. They invested in numerous cryptocurrencies, such as neo
, tron coin
and bitcoin cash
. It is reported that the number of Japanese investing in virtual currency has exceeded 3.5 million, so that Japan is known as the “virtual currency power.”
However, when the market is so prosperous, most of the Japanese investors are men between the ages of 30 and 40. They lack financial knowledge and are highly vulnerable to market fluctuations. Moreover, exchanges and companies use virtual currency to hype the market and disrupt the market. Nowadays, the Japanese digital currency market is undercurrent, hiding many risks.
Most people who invest in virtual currency in Japan lack financial knowledge. According to an online survey of 25 to 30 years old in Japan, about 14% of the 4,734 people who participated in the company have virtual currency. Among them, 27.7% are beginners who have never invested or purchased virtual currency before.
The price of virtual currency fluctuated greatly. A Japanese company sold a property with 547 bitcoins. At that time, the price of 547 bitcoins was equivalent to 670 million yen. However, after 12 days, the price of these bitcoins depreciated to 450 million yen, which evaporates 33%. If prices fall, investors who have no investment experience will quickly panic, and the large-scale selling of their money will affect the stability of the entire money market. And most investors are not only lacking mature mature investment experience, most of them just use digital currency as a speculative means.
Japan is a country that allows virtual currency transactions. Relatively developed for virtual currency trading policies, coupled with the psychology of public investment, let some exchanges and organizations see the opportunity to use virtual currency to disguise themselves. Implement fraud and money laundering.
For example, Bitcoin Market, the first bitcoin exchange in Japan, was completely closed due to fraud after the establishment of six, and many investors lost their money.
In addition, virtual currency is also used as a means of money laundering. It is favored by criminal organizations. They use the exchange to invest large amounts of money, which makes the black money in their hands flow. Japan FSHO Co., Ltd. trades users when there is a high transaction due to the failure to fulfill the platform. The identity verification obligation is considered to be suspected of assisting money laundering and triggering market turmoil. Moreover, the behavior of speculating and laundering money has not only caused market confusion, but also the negative impact of investors’ lives.
According to the data of the Financial Department’s “Finance Department Online Monthly”, more than 2,000 complaints about virtual currency complaints were received, and the National Life Agency handled complaints about national currency, about 440 virtual currency complaints from 2015. It rose directly to 848 in 2016 and 1,380 in 2017, almost double the growth.