* Annual trading volume, including contract for difference (CFD) and futures trading, among domestic cryptocurrency exchange operators from 2016 to 2023. Aggregated by our company based on the statistical data published by the Japan Virtual and Crypto assets Exchange Association (JVCEA) and transaction data disclosed by domestic cryptocurrency exchange operators. The JVCEA statistics used are those published from 2018 onwards.

The following points are posted on the Financial Services Agency's website.

• The inclusion of virtual currency exchange agencies in this list confirms only that, based on the concerned virtual currency exchange's explanation, the currencies they deal in meet the definition under fund settlement law.

• The Financial Services Agency and Treasury do not guarantee or endorse the value of these virtual currencies. Virtual currencies are not necessarily backed by assets.

• Please pay attention to the following points when trading in virtual currency.

  • (Notes concerning the use of virtual currency)

  • Virtual currencies are not a "legal tender" with values guaranteed by the country, such as the Japanese yen or dollar. They are electronic data exchanged on the Internet.

  • he price of virtual currency may fluctuate. There is a possibility of losing money as the price of the virtual currency may plummet, suddenly become worthless, and so on.

  • The virtual currency exchange must register with the Financial Services Agency/Finance Bureau. Please check whether or not the exchange is a registered business owner if using their services.

  • When trading virtual currency, please seek explanations from the exchange, fully understand the transaction details, and proceed at your own discretion.

  • Discussions about virtual currencies and fraudulent coins are on the rise. Please be cautious of malicious and fraudulent businesses who are piggybacking on the use of virtual currencies and the development of the virtual currency exchange industry.

• Virtual currency exchange registration list（PDF: 62KB）

In some cases, we use the term "Crypto CFD" in the services we operate. This term refers to contracts for difference using the price of crypto assets as a reference index. "Crypto CFD" is different from CFDs on securities, which reference the price of a security or an index related to that price, or CFDs on commodities, which reference the price of a commodity. The term "Exchange" is also not a financial instruments exchange as defined by the Financial Instruments and Exchange Act and other regulations.

Disclaimer (please read carefully):

• Crypto assets are not a legal tender.

• Crypto assets may be used to settle a payment only in the event that the person receiving the payment agrees.

• Buying/selling crypto assets or exchanging them for other crypto assets are transactions which may result in losses incurred from price fluctuations of crypto assets. It is possible that the price of crypto assets declines due to influences from changes in balance of supply and demand, trends on prices of goods, currencies, and other markets, as well as changes in situation related to crypto assets.

• Trading with over-the-counter crypto asset derivatives may cause losses, because their trading price may fluctuate in either way due to influence from changes in balance of supply and demand of over-the-counter crypto asset derivatives on our platform as well as indirect influence from price changes of the crypto assets referred by those over-the-counter crypto asset derivatives.

• Over-the-counter crypto asset derivative trades are trades in which the notional amount, which is the product of the trading price and the open interest volume, can be larger than the amount of the margin deposit. Therefore, the amount of loss incurred may be larger than the amount of margin deposit if the notional amount fluctuates to a greater extent than the amount of margin deposit to your disadvantage due to changes in balance of supply and demand of over-the-counter crypto asset derivatives or price fluctuations of the crypto assets referred by the derivatives.

• The margin deposit size for over-the-counter crypto assets derivatives must be no less than 50% of the notional amount, while the notional amount must be no more than 2 times the margin deposit. (Both for individual customers .) More information can be found on our “What is bitFlyer Crypto CFD?” page.

• When making purchases or sales of crypto assets on Buy/Sell, or exchanging them for other crypto assets, customers bear the spread. The spread is the difference between the purchase and selling prices. The fees incurred when buying or selling crypto assets, exchanging them for other crypto assets or over-the-counter crypto asset derivatives as well as the calculation methods for the corresponding fees can be found on our Fees and Taxes page.

• Over-the-counter crypto asset derivatives are negotiated transactions between you and bitFlyer, Inc. which is the counterparty for you on those derivatives.

• You should thoroughly read and understand all of our documents that require user agreement. Trade at your own risk and judgment.

bitFlyer, Inc.
Director-General of the Kanto Finance Bureau No. 00003
Financial Instruments Business Kanto Local Finance Bureau (FIBO) No. 3294
Member of Japan Virtual and Crypto assets Exchange Association, which is Certified Association for Payment Service Providers as well as Financial Instruments Firms Association