Japan Adds 4 New Regulated Crypto Exchanges, Raising Total to 15

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The Japanese Financial Services Agency (FSA) has taken a significant step forward in shaping the country’s cryptocurrency landscape by officially adding four new companies to its list of registered crypto exchanges. This update brings the total number of legally authorized digital asset trading platforms in Japan to 15, reinforcing the nation’s commitment to a secure, transparent, and compliant crypto ecosystem.

This latest development follows the FSA’s initial announcement in late September, when it first unveiled a list of 11 approved cryptocurrency exchanges. Now, with the addition of four more regulated entities, Japan continues to strengthen its position as one of the most progressive and tightly regulated markets for digital assets globally.

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Regulatory Clarity Under the Payment Services Act

The FSA has emphasized that only digital currencies traded on these 15 registered platforms are recognized as "virtual currencies" under Japan’s Payment Services Act, which came into effect on April 1, 2025. This legislation formally recognizes Bitcoin and other approved cryptocurrencies as legitimate payment methods within the country.

Under this framework, all crypto exchanges operating in Japan must register with the FSA and comply with strict anti-money laundering (AML), know-your-customer (KYC), and cybersecurity requirements. These measures aim to protect investors, prevent fraud, and ensure market integrity—key components of Japan’s long-term digital finance strategy.

The Four Newly Approved Exchanges

The four newly registered firms are:

Of these, the first three have been granted permission to offer Bitcoin-only trading services, reflecting a cautious regulatory approach focused on the most established digital asset. However, Xtheta Corporation stands out by receiving approval to list a broader range of cryptocurrencies, including:

This expanded access highlights a growing differentiation among licensed exchanges based on their technical capabilities, risk management frameworks, and compliance maturity.

Ongoing Review Process and Market Consolidation

Prior to this update, the FSA disclosed that 17 additional exchanges were undergoing registration review. However, due to failure to meet regulatory standards, 12 unapproved platforms voluntarily ceased operations. This reflects the agency’s firm stance on enforcement and quality control within the sector.

Currently, there remains one exchange still under active review, suggesting that Japan’s regulated crypto market may expand further in the near future—albeit at a deliberate and methodical pace.

Notably, on the same day the FSA announced the new approvals, Coincheck, Japan’s second-largest Bitcoin exchange by trading volume, confirmed it had submitted its application for registration as a "Virtual Currency Exchange Business" on September 13. While its status remains pending, Coincheck reassured users that it continues to operate normally and remains fully committed to achieving full compliance.

👉 Learn how emerging crypto markets are balancing innovation with investor protection through smart regulation.

Why Japan’s Crypto Regulation Matters Globally

Japan’s approach to cryptocurrency regulation is widely regarded as a model for other nations navigating the complex intersection of innovation and oversight. By maintaining high entry barriers and enforcing continuous compliance, the FSA helps reduce systemic risks while fostering trust among consumers and institutional investors.

Moreover, clear legal definitions and licensing processes encourage responsible innovation. Startups and fintech firms now have a predictable pathway to launch compliant products, from trading platforms to blockchain-based payment solutions.

This structured environment also makes Japan an attractive hub for international crypto businesses seeking legitimacy and long-term sustainability.

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Frequently Asked Questions (FAQ)

Q: How many cryptocurrency exchanges are currently licensed in Japan?
A: As of the latest update, there are 15 registered crypto exchanges approved by the Japanese Financial Services Agency (FSA).

Q: What does it mean for an exchange to be “FSA-registered”?
A: Being FSA-registered means the exchange complies with Japan’s strict regulatory standards under the Payment Services Act, including AML/KYC protocols, capital requirements, and cybersecurity safeguards.

Q: Can unregistered exchanges operate in Japan?
A: No. Operating a crypto exchange without FSA registration is illegal in Japan. Unlicensed platforms must either close or apply for approval.

Q: Is Bitcoin legal in Japan?
A: Yes. Since April 1, 2025, Bitcoin and other recognized virtual currencies are legal payment methods under the revised Payment Services Act.

Q: Why did some exchanges shut down during the registration process?
A: Twelve exchanges closed because they failed to meet the FSA’s stringent compliance requirements, including financial stability, user protection mechanisms, and operational transparency.

Q: Will more exchanges be added in the future?
A: It’s possible. One exchange is still under review, and the FSA may approve additional applicants who meet regulatory criteria in the coming months.

👉 See how regulated markets like Japan are paving the way for safer crypto adoption worldwide.

Looking Ahead: Stability Over Speed

Japan’s measured expansion of its licensed crypto market underscores a broader philosophy: security and trust come before rapid growth. While some countries rush to embrace digital assets with minimal oversight, Japan is building a resilient foundation that prioritizes consumer protection without stifling innovation.

For investors, this means greater confidence when choosing where to trade. For developers and entrepreneurs, it offers a stable regulatory environment conducive to building next-generation financial services.

As global interest in digital currencies grows, Japan’s model may serve as a benchmark for balancing freedom and responsibility in the decentralized economy.

In summary, the addition of four new regulated exchanges marks not just a numerical milestone—but a reaffirmation of Japan’s leadership in shaping a sustainable and trustworthy cryptocurrency future.