Japan’s Financial Services Agency (FSA) has released its latest registry of licensed crypto asset exchange service providers, revealing 28 registered platforms offering a combined total of over 100 distinct tokens as of April 5, 2026. The update underscores the country’s methodical approach to regulating digital assets while allowing market expansion within a tightly controlled legal framework.
Registration Requirements Under the Payment Services Act
Under Japan’s Payment Services Act, every crypto asset listed on an exchange must be individually registered with the FSA. The registry, last updated on February 28, 2026, shows approximately 520 token entries when counting duplicate listings across all exchanges. After removing redundancies, the core set of tokens narrows to just over 100, though the exact figure varies depending on how rebranded, merged, or legacy tokens are classified. The FSA deliberately records these variants separately to reflect the actual assets handled by each platform, ensuring full transparency for users and regulators.
Diverse Token Ecosystem: Layer 1 DeFi, AI, Gaming, and Memecoins
The token list spans a wide spectrum of blockchain use cases. Major Layer 1 protocols include BTC, ETH, XRP, SOL, ADA, AVAX, NEAR, SUI, and TON. Decentralized finance (DeFi) and middleware tokens such as UNI, AAVE, COMP, CRV, and LINK are present. AI and data-focused projects like FET, FIL, RENDER, and GRT are included, alongside gaming and metaverse assets like APE, AXS, SAND, ENJ, and MANA. Memecoins such as DOGE, SHIB, PEPE, and TRUMP have also gained regulatory acknowledgment. Additionally, Japan-specific projects like JASMY, ASTR, and XYM feature prominently, reflecting local innovation.
Exchange Strategy Differentiation
The registry reveals significant variation in asset listings among exchanges, highlighting competitive strategies within the same regulatory sandbox. Binance Japan leads with 65 tokens, followed by Bittrade (48), Bitbank (44), Bitflyer (39), Coincheck (37), and SBI VC Trade (35). In contrast, Money Partners and Coinhub support only Bitcoin. Coinbase appears on the FSA list but shows no tokens in the current snapshot, indicating an inactive status. These differences illustrate how platforms differentiate themselves through asset selection while complying with registration rules.
No Endorsement, Clear Risk Warnings
The FSA has explicitly stated that inclusion in the registry does not imply endorsement or guarantee of value. The regulator warns that crypto assets are not legal tender, lack government backing, and carry high price volatility, cybersecurity risks, and fraud potential. Users are advised to verify that a service provider is registered and to understand transaction risks before trading. The registry serves as a tool for transparency and accountability, not as a seal of approval.
Alongside the FSA’s efforts, the Japan Virtual and Crypto Assets Exchange Association (JVCEA) operates a “Green List” framework that streamlines token listings among member exchanges. This mechanism reduces redundant pre-assessments while maintaining standards for liquidity, security, and transparency. Together, the FSA registry and JVCEA processes create a dual-layer regulatory system that balances market growth with investor protection.
Japan’s approach demonstrates how a mature regulatory environment can accommodate a diverse range of digital assets while maintaining strict oversight. With over 100 tokens now circulating across 28 licensed platforms, the country continues to serve as a global benchmark for structured crypto regulation.