Recent Japanese policy changes have helped the country more than double the crypto adoption in the last year, according to the Crypto Analytics company chainalysis.
Among the top five Asia Pacific markets (APAC) Region, Japan has seen the strongest growth, with the value received onchain growing 120% year-on year from 12 months to June, according to a quotation from the chainalysis’ 2025 Geography of Cryptocurrency Report released Wednesday.
APAC’s head policy policy, Chengyi Ong, told Cointelegraph that Japan’s activity “reflects some of the trends we have seen in the global market, a sharp pickup in trade volumes in the fourth quarter of 2024 behind the US presidential election, followed by a tapering.”
Meanwhile, Atsushi Kuwabara, Chief Business Development Officer at the Japanese Crypto Exchange BITBank, told Cointelegraph that the company has seen “steady growth in the year’s use of the platform” to August for both new and returning users.
Japan has looked to change crypto laws to align sector policies including the traditional security market and change its taxing policies lower taxes In Crypto. Last month, the country regulators Also Greenlit The first stablecoin is on yen.
“Japan’s growth is on the heel of important advances in its crypto industry,” Chainalysis said. “For a few hours now, regulatory restrictions have forced the list of stablecoins to domestic exchanges, though it is beginning to change.”
Ong said the market activity in Japan “was stable but conquered in connection with regional peers such as South Korea,” but the use of crypto in the country “is likely to boost the expectations of upcoming policy changes.”
“It’s not surprising that there will be a pickup amid expectations of a more interesting policy and tax environment for future crypto trading.”
The APAC region sees the continuous expansion of the crypto
The chainalysis’ report added that the increase in crypto value was received double in Indonesia, South Korea and India, which showed “continuous expansion but from high grounds,” while a 55% growth in Vietnam suggested a “mattress market where crypto was deeply emerged in remittances and sunny activities.
The company noted its report Earlier this month The Asia Pacific was found is the “fastest growing region in the world in terms of the onchain value received,” with India leading the global adoption index.
In the future, the markets will “be zealous watching” how stablecoins like the USDC (USDC) and the recent greenlighted JPYC get traction, the chainalysis said.
Stablecoins is a boon in regional adoption
Ong said that Stablecoins “becomes a key ingredient in the trends of APAC crypto adoption,” and is known to be known in many regional markets.
He added that South Korea, in particular, banks found “enthusiastic interests” in the development of Stablecoin laws, and chainalysis reported that Stablecoin trade volumes jumped more than 50% this year, with a total purchase of up to $ 59 billion in the year to June.
“The USD-support Stablecoins has gained significant traction in that market,” Ong said. “It would be interesting to see if the dynamic shifts when we would eventually get the stablecoins.”
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He added that Australia will “be a interesting also to be watched in the future” with it Recent shift In its treatment of stablecoins.
“Although the law has been slow to become materialize, regulators recently licensed a stablecoin under the existing financial service regime, and took steps to facilitate use by providing regulation of shares,” Ong said.
Crypto use case is different by country
The chainalysis reports that the top five growing markets in the region are “notablely noting different paths in crypto,” that each has different cases of use; However, remittances are a repeated theme.
India has seen adults who use crypto to trade to boost their income, while a large number of Indians abroad use crypto for remittances. Vietnam also used crypto as a “sunny infrastructure for remittances, gaming, and savings rather than speculation.”
Meanwhile, Pakistan, has a “child, mobile-first population” that uses stablecoins as a fence against inflation and for payments, while South Korea exchanged crypto “almost like the same” as new laws “reshaping activity on major domestic exchanges,” the chainalysis said.
It added that the so -called “smaller market” of Australia, Singapore and Hong Kong have seen steps to align regulatory policies and regimes, aimed at larger and clearer sector administration.
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