How long does Japan FSA crypto registration take?

The FSA registration process typically takes 6-12 months, though complex applications can take longer. Japan is known for thorough reviews after the 2018 exchange hacks.

What is JVCEA and is membership required?

JVCEA (Japan Virtual and Crypto Assets Exchange Association) is the self-regulatory organization for crypto exchanges in Japan. Membership is effectively mandatory for FSA-registered exchanges and involves additional compliance requirements.

How many crypto exchanges are registered in Japan?

As of December 2025, 28 Crypto Asset Exchange Service Providers are registered with the FSA, including major players like bitFlyer, Coincheck, GMO Coin, and Coinbase Japan.

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🇯🇵 Japan FSA Crypto License Guide 2026

Q: How much does a Japan crypto license cost?

Japan FSA registration fee is ¥150,000 (~USD 1,000). However, total setup costs range from ¥50-150 million (~USD 350K-1M) including capital requirements, compliance systems, and JVCEA membership.

Complete guide to Crypto Asset Exchange Service (CAES) registration

        📊 Status (Dec 2025): 28 registered exchanges with FSA. Japan remains one of the world's most regulated crypto markets with strict consumer protection rules since 2017.
    

Registered Exchanges

¥150K

Registration Fee

6-12mo

Process Time

¥10M+

Min Capital

📋 Regulatory Framework

Aspect	Details
Primary Regulator	Financial Services Agency (FSA)
Self-Regulatory Body	JVCEA (Japan Virtual and Crypto Assets Exchange Association)
Governing Law	Payment Services Act (PSA), Financial Instruments and Exchange Act (FIEA)
License Type	Crypto Asset Exchange Service Provider (CAESP) Registration
Crypto Definition	"Crypto Assets" (暗号資産) - legally defined since 2017

💰 Cost Breakdown

Cost Category	Amount (JPY)	Amount (USD)
FSA Registration Fee	¥150,000	~$1,000
Minimum Capital	¥10,000,000+	~$70,000+
JVCEA Membership Fee	¥1,000,000+/year	~$7,000+
Legal & Compliance Setup	¥10,000,000 - 30,000,000	$70K-210K
System Development	¥20,000,000 - 50,000,000	$140K-350K
Security Infrastructure	¥10,000,000 - 30,000,000	$70K-210K
Operational Setup	¥10,000,000 - 20,000,000	$70K-140K
Total First Year	¥50,000,000 - 150,000,000	$350K - $1M

📝 Registration Requirements

Corporate Structure

Japanese corporation (Kabushiki Kaisha - KK)
Head office in Japan
Japanese resident representative director
Minimum capital: ¥10 million (higher recommended)

Operational Requirements

Cold Wallet Segregation: 95%+ of customer assets in cold storage
Asset Segregation: Customer assets separate from company assets
System Security: Multi-sig, penetration testing, 24/7 monitoring
AML/CFT: Full compliance with JAFIC guidelines
Travel Rule: Mandatory compliance

JVCEA Membership

Membership effectively mandatory
Additional self-regulatory rules
Token listing approval process
Annual audits and reporting

⚠️ Strict Token Listing: Japan has one of the strictest token listing processes. New tokens must be approved by JVCEA before trading, often taking 6+ months per token. Only ~30 tokens are widely approved.

🏢 Registered Exchanges (Dec 2025)

Exchange	Registration Date	Notable Features
bitFlyer	Sep 2017	Largest by volume
Coincheck	Jan 2019*	Re-registered after 2018 hack
GMO Coin	Sep 2017	GMO Group subsidiary
bitbank	Sep 2017	High liquidity
Zaif (Tech Bureau)	Sep 2017	Early pioneer
Liquid (Quoine)	Sep 2017	Now FTX Japan
Coinbase Japan	Jun 2021	US giant entry
Kraken Japan	Sep 2020	US exchange
SBI VC Trade	Sep 2017	SBI Group
Rakuten Wallet	Mar 2019	E-commerce integration
+ 18 more registered exchanges

*Coincheck was operating under transitional measures before full re-registration

🌏 Japan vs Other APAC Markets

Factor	🇯🇵 Japan	🇭🇰 Hong Kong	🇸🇬 Singapore
Reg Fee	¥150K (~$1K)	HKD 780K	SGD 1.5K
Min Capital	¥10M (~$70K)	HKD 5M	SGD 250K
Total Year 1	¥50-150M	HKD 8-25M	SGD 1-2M
Process Time	6-12 months	12-18 months	6-12 months
Token Listing	Very strict	Moderate	Moderate
Retail Access	Yes	Limited	Yes
Crypto Tax	Up to 55%	0%	0%

💡 Why Japan Despite Strict Rules?

Huge market: 126M population, high crypto adoption
Legal clarity: Crypto legally defined since 2017
Trust: Post-hack regulations = consumer confidence
Yen liquidity: JPY is major crypto trading pair
Corporate adoption: Sony, Rakuten, SBI in crypto

📅 Recent Developments

2024: FSA considering crypto brokerage license (intermediary only)
2025: Tax reform discussions (lower crypto gains tax)
2026: Potential stablecoin issuer framework
Ongoing: Web3 policy push by government

❓ Frequently Asked Questions

How much does a Japan crypto license cost?

FSA registration fee is only ¥150,000 (~$1,000). However, total setup costs range from ¥50-150 million (~$350K-$1M) including capital, systems, compliance, and JVCEA membership.

How long does registration take?

6-12 months typical. Japan FSA conducts thorough reviews, especially for security systems. Post-2018 hack reforms made the process more rigorous.

Can foreign companies apply?

Yes, but you must:

Establish a Japanese corporation (KK)
Have Japanese resident director
Physical presence in Japan
Japanese-speaking compliance team

What about crypto taxes in Japan?

Japan has high crypto taxes - gains are taxed as miscellaneous income at rates up to 55% (including local taxes). This is a significant consideration for traders.

🔗 Related Resources

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Last Updated: February 26, 2026
Sources: FSA, JVCEA, Payment Services Act
Disclaimer: For educational purposes only. Consult licensed professionals for specific advice.