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 will 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 FXcoin (SBI VC Trade Co., Ltd.) as planned according to its registered regulatory address that Izumi Garden Tower, 1-6-1, Roppongi, Minato-ku, Tokyo, Japan.

The investigation team arrived at the destination on February 28, 2023, where a high-rise office building Izumi Garden Tower was situated in a prosperous area of Roppongi.

After entering the building, the investigation team found that the company FXcoin (SBI VC Trade Co., Ltd.) was located between the 13-22 floors from the company directory. But people were not allowed to make a visit to the company without a permission from the reception desk on the 19th floor, according to the security rule. Finally, the survey personnel failed to reach the target floor.

Conclusion

The survey personnel went to Tokyo, Japan to visit the cryptocurrency exchange FXcoin (SBI VC Trade Co., Ltd.) as scheduled, and spotted the company’s physical business office at its registered regulatory address. Unfortunately, the survey personnel were not able to enter the company for a special visit, so the specific scale of its business is unknown. Investors are advised to make a sensible choice based on a comprehensive consideration.

Disclaimer

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