Survey: 14% Of Japan’s Young, Male Professionals Own Cryptos

Pratik Makadiya
  • A recently conducted survey shows Japan's young male workforce trends to invest in cryptocurrencies
  • An influx of Japanese investors was felt in the last quarter of 2017, when most cryptocurrencies hit all-time highs

According to a survey conducted by Japanese research institute Shin R25, a subsidiary of the publicly listed internet advertising company Cyber Agent, 14 percent of all young professionals in the Japan aged between 25-30 own cryptocurrency.

Japan is one of the most crypto friendly countries in the world, recognizing bitcoin as legal tender in April 2017. The nation is currently the biggest crypto market in the world, as according to CryptoCompare data the Japanese yen made up 52.8 percent of bitcoin’s trading volume in the last 24-hour period.

Crypto Investments

Shin R25 organized a countrywide survey to explore the percentage of virtual currency owners among employees in the 25-30 year old age group. The research organization used Macromill internet research to conduct the extensive survey.

The survey was conducted over the first quarter of 2018,  and 4,734 individuals participated in it. Out of those surveyed 14 percent admitted to have invested in cryptocurrencies, with  25 percent of all participants were new to investments. On the other hand, 72 percent of participants had experience investing.

Although cryptocurrencies are legal tender in Japan, 92 percent of respondents revealed they bought them as an investment, hoping prices would surge so they could make a profit. Moreover, 37.4 percent invested “for the time being because it is a trend.” About 20 percent did so thanks to an acquaintance’s recommendation.

An Influx Of Japanese Investors

2017 was a great year for the crypto space, as various cryptocurrencies hit new all-time highs during the year’s last quarter. Unsurprisingly, many Japanese investors entered the market at the time.

The survey notes that 79 percent of respondents entered the crypto space in 2017. 25 percent of Japanese professionals who had never invested in virtual currencies did so in Q4 2017. About 15 percent of respondents started investing in early 2018, when cryptocurrencies started plummeting.

Participants revealed that they have invested less in digital currencies because of their volatile nature. Over one-third of them revealed to have invested less than $500, while only a few invested large sums.

Even with the crypto market’s wild price swings, 50 percent of participants intend to continue investing in cryptocurrencies, while 35 percent plan on stopping.

Ukraine Wants to Track Cryptocurrency Transactions Above $1,200

Ukraine’s head of the Ministry of Finance, Oksana Makarova, has revealed the country is planning to start tracking cryptocurrency transactions above $1,200.

During an interview with a local news outlet, Makarova revealed the country’s strengthened anti-money laundering laws, signed last month by Ukrainian president Volodymir Zelensky, are in accordance with the latest Financial Action Task Force recommendations regarding crypto transactions.

The Ukrainian law includes crypto as an asset to be monitored, and established a threshold to trigger the scrutiny at 30,00 Ukrainian hryvnia (UAH),, equivalent to roughly $1,200. In the interview Makarova said:

If exchanges, exchangers, banks or other companies make payments in cryptocurrencies worth more than UAH 30,000 in equivalent, they must verify such transaction and collect detailed customer information.

She added that customers transacting large amounts of cryptocurrency will have to “provide comprehensive information about the origin and destination of their virtual assets.” If transactions are deemed suspicious, exchanges have to report them to the financial watchdog, the State Financial Monitoring Service (SCFM).

The SCFM, according to Makarova, can block cryptocurrency transactions and can confiscate cryptos originating from illicit transactions. She added it has “access to an analytical product that allows investigations into the origins of crypto-assets and their uses.” Makarova noted:

It is impossible to stop operations now, but it is possible to block crypto wallets and remove illegally obtained crypto assets. This can be done by accessing the crypto's private keys as a result of complex investigations.

The head of Ukraine’s Ministry of Finance also revealed several national agencies are working on regulations for virtual assets in the country, as cryptocurrencies aren’t yet defined by Ukrainian law.

She noted she believes the volume of cryptocurrency circulating in the country is “quite high,” although she believes in Ukraine “criminals and corrupt officials are quite conservative and still keep the funds mostly in cash.”

As CoinDesk reports, Makarova noted she doesn’t see the cryptocurrency industry as a threat, but sees opportunities for its development in the country.

Featured image by João Silas on Unsplash