The volume of trade Bitcoins in Japan reached record levels

In the first half of 2016 the volume of trade on Bitcoin exchanges kriptovalyutnyh Japan reached record levels, amounting to about 430 billion yen ($ 4.25 billion).

It is reported by Nikkei Asian Review.

The figures of 430 billion yen mean that, compared with the same period of 2015 the volume of transactions with Bitcoin exchanges to Japan increased by 50 times. In July, the volume of trading in cryptocurrency also increased 50 times compared to July 2015 and has made more than 200 billion yen (about $ 2 billion).

According to observers, this is largely due to the high volatility cryptocurrency attracting a lot of speculators. Thus, the country's leading bitFlyer Exchange reported that exceeded 200 000 in August, the number of registered users of the platform, which is ten times more than the same last year.

"Since the spring of this year, trading volumes are growing at an unprecedented pace before", - quotes the edition of CEO bitFlyer Yuzo Kano.

At the same time indicators of the first half, most likely, they will soon enough be exceeded. Thus, according to research firm Seed Planning Assessment bitcoin annual trading volume this year will amount to 2 trillion yen.

"We are seeing a trend in which investors who had previously engaged in margin trading in foreign currencies, increasingly prefer Bitcoin," - said a company representative.

To date, the volume of bitcoin trades in Japan remain relatively small in comparison with more than 400 trillion yen in annual trade with foreign currencies. However, we convinced Seed Planning, in the near future the situation will change in favor of cryptocurrency, drawing an analogy with other products, which is rapidly gaining popularity soon after the adoption of the necessary legislative framework.

Recall that in May, the Japanese government passed a law on the regulation of kriptovalyutnyh exchanges. According to Nikkei Asian Review, it raised the level of public confidence in Bitcoin and other electronic currencies. At the same time in July, Nomura Research Institute published a report which stated that new regulations and Bitcoin digital currency in Japan need to be more clear and precise definitions.