Reason for this visit

Japan is one of the largest cryptocurrency markets in the world, and it was one of the first countries to recognize Bitcoin as a legal asset. According to data collected by Japan's Financial Services Agency (FSA), there are approximately 3.5 million cryptocurrency investors in Japan, with more than $100 billion trading volume per year.

Japan’s regulation over the cryptocurrency exchanges (brokers) is worthy of reference for many countries around the world. In order to help investors to get a more comprehensive understanding of the country's cryptocurrency exchanges (brokers), the survey team go to Japan for on-site visits.

On-site visit

In this issue, the investigation team went to Tokyo, Japan to visit the cryptocurrency exchange SBI VC Trade Co., Ltd. as planned according to the regulatory address it claimed that Roppongi T-Cube, 3-1-1 Roppongi, Minato-ku, Tokyo, Japan.

The investigation team arrived at the destination on February 28, 2023, where the Roppongi T-Cube a high-rise office building was situated, but didn’t find the company’s information from the company directory in the building. In addition, the survey personnel communicated with the related staff and got nothing about the company.

After an investigation, it is confirmed that the cryptocurrency exchange SBI VC Trade Co., Ltd. doesn’t have a physical presence here.

Conclusion

The survey personnel went to Tokyo, Japan to visit the cryptocurrency exchange SBI VC Trade Co., Ltd. as scheduled, but did not find its physical business office at its publicly displayed business address, which indicates that the company’s regulatory information is not true. Therefore, investors are advised to choose this exchange carefully.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.