Reason for this visit

The Japanese cryptocurrency market reached $1.4 billion in 2024 and is projected to expand to $7.1 billion by 2033, with a compound annual growth rate (CAGR) of 17.38% from 2025 to 2033, indicating substantial growth potential. The Japanese government maintains stringent regulations on cryptocurrencies. In 2017, amendments to the Payment Services Act brought cryptocurrency exchanges under regulatory oversight, introducing a licensing system supervised by the Financial Services Agency (FSA). Since 2021, Japan has required Virtual Asset Service Providers (VASPs) to comply with the Travel Rule. In June 2023, lawmakers confirmed plans to impose stricter Anti-Money Laundering (AML) regulations on the digital currency industry.

Estimates suggest that over 5 million people in Japan own cryptocurrencies, accounting for 4.0% of the population. BTC and ETH are the most favored crypto assets among Japanese investors, who also show keen interest in NFTs, the metaverse, stablecoins, and other sectors. As one of the worlds largest cryptocurrency trading markets and among the first to regulate exchanges, Japan hosts numerous domestic platforms while attracting many foreign exchanges seeking market entry. To provide investors with a comprehensive understanding of the local cryptocurrency exchange landscape, WikiFX survey team plans to conduct on-site visits to these companies in Japan.

On-site visit

In this issue, the survey team went to Japan to visit cryptocurrency exchange CRYPTO GARAGE as planned according to its regulatory address that 2-19-9 Ebisu Nishi, Shibuya-ku, Tokyo, Japan.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the cryptocurrency exchange CRYPTO GARAGE at 2-19-9 Ebisu Nishi in Shibuya of Tokyo.

The target building is located at 2-19-9 Ebisu Nishi, Shibuya-ku, Tokyo, approximately a 5-minute walk from the nearest station, offering convenient access. The surrounding area is quiet, with low foot traffic, typical of a low-key commercial district, and no significant business activity or dense crowds were observed. The building appears as an ordinary office structure with no prominent signage or advertisements, and the nearby streets are tidy yet somewhat deserted.

The investigators began by surveying the exterior of the building. The five-story structure displayed no signs, logos, or markings related to “CRYPTO GARAGE,” only the names of a few other tenant companies. The entrance lacked a dedicated security system, and no visible company identifiers were found for external documentation.

Upon entering, the team checked the floor directory to locate CRYPTO GARAGE. However, neither the digital display nor the printed floor plan listed the company. Further inquiries with the building management revealed no registered tenant by that name or any associated leasing records.

The team then examined each floor‘s common areas, searching for doorplates or interior signs to confirm the company’s presence. The investigation revealed that the address 2-19-9 corresponded to a co-working space, but CRYPTO GARAGE was absent from the tenant list. Additionally, no information about the company was found at the shared workspaces reception desk or bulletin boards.

Through the on-site investigation, it is confirmed that the company does not maintain a physical presence at the location.

Conclusion

The survey team went to Japan to visit cryptocurrency exchange CRYPTO GARAGE as planned but did not find the company at its regulatory address. This signifies that the company does not have a physical office at the place or just utilizes the address for registration purpose. Therefore, investors should be meticulous in choosing the exchange.

Disclaimer

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