Japan's regulated crypto market continues to expand under strict oversight, with the Financial Services Agency (FSA) confirming over 100 listed tokens across 28 registered crypto platforms as of April 5, 2026. The latest registry, updated on February 28, reveals a structured yet diverse digital asset environment where compliance and competition coexist.
28 Platforms and Over 100 Unique Tokens
Under the Payment Services Act, each crypto asset exchange service provider must register every token it offers with the FSA. The current list contains approximately 520 token entries when counting duplicates across platforms. After removing overlapping listings, rebranded assets, and legacy tokens, the number narrows to just over 100 distinct cryptocurrencies. The FSA clarifies that legacy variants are kept separate to accurately reflect the actual assets handled by each provider, ensuring traceability and legal clarity during transition periods.
The token roster includes major global assets such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), Chainlink (LINK), BNB, Tron (TRX), Shiba Inu (SHIB), Dogecoin (DOGE), Pepe (PEPE), and many others. It also features Japan-specific projects like Astar (ASTR), Jasmy (JASMY), and Oasys (OAS). The tokens span multiple categories: Layer 1 blockchains, Layer 2 scaling solutions, AI and data networks, gaming and metaverse assets, DeFi protocols, stablecoins, exchange tokens, memecoins, and localized ecosystem tokens.
Exchange Strategies Vary Under Common Rules
While all registered platforms must comply with the same regulatory requirements, their asset selection strategies differ significantly. Binance Japan leads with 65 listed tokens, followed by Bittrade with 48, Bitbank with 44, Coincheck with 37, Bitflyer with 39, and SBI VC Trade with 35. In contrast, Money Partners and Coinhub only support Bitcoin. Coinbase appears on the registry but shows no listed tokens, indicating inactive status. These differences illustrate how exchanges compete through asset diversity while adhering to the FSA's compliance framework.
Legacy Tokens and Special Provisions
The FSA registry retains tokens linked to older versions, rebrands, or merged ecosystems. This approach maintains legal clarity, as each distinct asset—even those with different smart contracts or internal systems—is registered separately. The regulator allows transition periods for users to migrate holdings without disrupting market integrity.
Dual Regulatory Layer: FSA and JVCEA Green List
Complementing the FSA registry, the Japan Virtual and Crypto Assets Exchange Association (JVCEA) operates a "Green List" framework that streamlines token listings among member exchanges. This mechanism reduces the need for repeated pre-assessments while maintaining standards for liquidity, security, and transparency. Together, the FSA registry and JVCEA processes form a dual-layer system supporting digital asset markets under defined oversight.
The FSA emphasizes that inclusion on the list does not represent endorsement or value guarantee. It warns that crypto assets are not legal tender, lack government backing, and carry risks including price volatility, cybersecurity threats, and fraud. Users are advised to verify whether a provider is registered and to understand transaction risks before trading. Japan's registry reflects a structured regulatory model that emphasizes transparency and accountability while allowing market activity.