{"id":481014,"date":"2022-08-04T08:00:36","date_gmt":"2022-08-04T05:00:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/after-four-years-japan-brings-back-its-first-crypto-atm\/"},"modified":"2022-08-04T08:00:36","modified_gmt":"2022-08-04T05:00:36","slug":"after-four-years-japan-brings-back-its-first-crypto-atm","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/after-four-years-japan-brings-back-its-first-crypto-atm\/","title":{"rendered":"# After four years, Japan brings back its first crypto ATM"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2d697e0799b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2d697e0799b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/after-four-years-japan-brings-back-its-first-crypto-atm\/#%E2%80%9D_After_four_years_Japan_brings_back_its_first_crypto_ATM_%E2%80%9C\" >&#8221; After four years, Japan brings back its first crypto ATM &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/after-four-years-japan-brings-back-its-first-crypto-atm\/#Crypto_interest_resurfacing\" >Crypto interest resurfacing?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_After_four_years_Japan_brings_back_its_first_crypto_ATM_%E2%80%9C\"><\/span>&#8221; After four years, Japan brings back its first crypto ATM &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Crypto ATMs \u2014 or BTMs according to local terminology \u2014 are back in Japan after a lengthy four-year hiatus.<\/p>\n<p>Local crypto exchange firm Gaia Co., Ltd <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gaia-btm.com\/press_release.pdf\">announced<\/a> on Tuesday that it will soon roll out BTMs that support Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). <\/p>\n<p>Despite Bitcoin ATMs having made their debut in Tokyo as early as 2014, the country has not seen any active digital asset ATMs since the crypto winter of 2018, which saw local exchange Coincheck hacked for $530 million, bringing the local sector to its knees and souring interest in crypto ATMs. <\/p>\n<p>Initially, the BTMs will be installed in locations across Tokyo and Osaka, but the firm has outlined plans to set up 50 BTMs across the country within the next 12 months. The company said it hopes to increase the installed base to 130 BTMs within the next three years.<\/p>\n<p>The BTMs will allow users to withdraw a max of $747, or 100,000 Japanese yen, per transaction, with a max withdrawal cap of $2,243, or 300,000 yen, per day. The limited withdrawals are part of Anti-Money Laundering (AML) compliance measures. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/6f136404-8b1f-4c64-85d6-c33f272c75ee.png\"><figcaption style=\"text-align: center;\">BTM: Gaia Co., Ltd<\/figcaption><\/figure>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mainichi.jp\/articles\/20220802\/k00\/00m\/020\/139000c\">According<\/a> to a Wednesday\u00a0report from local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlet Mainichi Shimbun, the move from Gaia will mark the first time a locally-registered crypto company has installed crypto ATMs in Japan. <\/p>\n<p>To withdraw funds from the BTMs, users need to register with the company to obtain a special card that grants them access to do so. Once <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved, users can send crypto assets to the BTM via a smartphone and then withdraw the cash amount in yen. <\/p>\n<p>The BTMs will help speed up the current withdrawal process in the country, which often takes a few days to wire funds from an exchange to a local bank account, the Japanese-language outlet noted. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Crypto_interest_resurfacing\"><\/span>Crypto interest resurfacing?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Coincheck hack, along with the $500 million hack on the Mt. Gox crypto exchange in 2014, ultimately resulted in the government opting for a hands-off approach by assigning oversight to the self-regulatory agency, Japan Virtual Currency Exchange Association (JVCEA). <\/p>\n<p>However, it appears the government has had a renewed interest in helping the market prosper this year. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Japan\u2019s crypto groups call for end of taxing paper gains<\/em><\/strong><\/p>\n<p>As previously reported in July, Japan\u2019s Financial Services Agency (FSA) gave the JVCEA \u201cstern warnings\u201d to speed up its rollout of AML regulation. <\/p>\n<p>Meanwhile, prime minister Fumio Kishida has also called on the entity to speed up its lengthy screening process for new digital asset listing applications from local exchanges. <\/p>\n<p>Last month, Cointelegraph reported that The Ministry of Economy, Trade, and Industry (METI) opened up its landmark Web3 Policy Office in the Minister\u2019s Secretariat. The newly established entity will work to develop an innovative business environment for Web3 companies, along with the roll-out of regulation to support the sector. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/after-four-years-japan-brings-back-its-first-crypto-atm\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; After four years, Japan brings back its first crypto ATM &#8220; Crypto ATMs \u2014 or BTMs according to local terminology \u2014 are back in Japan after a lengthy four-year hiatus. Local crypto exchange firm Gaia Co., Ltd announced on Tuesday that it will soon roll out BTMs that support Bitcoin (BTC), Ether (ETH), Bitcoin&#8230;<\/p>\n","protected":false},"author":1,"featured_media":481015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNmM4MzRjYjAtYTMxYS00ZTc0LTg1MTMtYjUzNDZlZmI5NzRjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[117866,70719,117,20618],"class_list":["post-481014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-atms-bitcoin-exchange","tag-atm","tag-business","tag-japan"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=481014"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/481015"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=481014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=481014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=481014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}