Japan’s Consumer Affairs Agency (CAA) Reports 170% Boost in Number of Crypto Inquiries

The consumer affair in Japan has just said that it saw a 170% increase in the number of consumer queries about the crypto-coin when you compare with the numbers collected last year. This is according to the Cointelegraph on the 18th of June.

The CAA also referred to as the Consumer Affairs Agency is an administrative agency that is in the Japan Cabinet Office. This is an office that has been responsible with the day to day affairs that are around the government executive branch. The reports on consumer sectors, together with consumer protection, is generated by the CAA and is submitted each year.

The CAA reports

The research that is done by the CAA strongly indicates that in just 2018, the consumer queries surrounding the crypto market had hit 3657 cases. This is about 1.7 increase as compared to last year. The inquiries for the crypto space might have slowed down when looking at 2017, but Cointelegraph notes that the overall growth has been consistent, this is since 2014.

The CAA also went on to reveal that some inquiries were regarding the investment difficulties. As it was reported by the FSA, Financial Service Agency back in 2018, several inquiries were made about the crypto space. This was mostly coming from the Japanese investors, which went ahead to decline in the third quester of 2018 drastically.

A report that was also published by the FSA in the fourth quarter of 2018 indicated that there was yet a further decline that was witnessed.

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