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The State of Crypto in Japan

A quick overview of Japan’s crypto market

When it comes to cryptocurrency in Asia, one of the biggest players is undoubtedly Japan. The country is considered one of the better crypto hubs on the continent, especially when compared to places like China. As the race for global crypto supremacy continues to heat up, more eyes will inevitably be on Japan. But what exactly is the state of crypto in Japan? And what trajectory is the country on?

One of the first things to note is that crypto is widely used in Japan. There are 3.72 million crypto wallets in Japan as of 2022. And this only seems to be growing as the Blockchain Association of Japan claims that this figure is closer to 6.8 million as of 2023. Either way, cryptocurrency has been embraced by Japanese consumers. 

And this large user base has not gone unnoticed by crypto companies, many of whom are opening up shop in Japan or expanding their offerings. Some major projects that operate in Japan include SushiSwap and bitFlyer. Just recently, Binance announced the launch of its Japanese arm with 34 tokens available for spot trading before bumping this number up to 100. Some of these tokens include Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), and Dogecoin (DOGE). 

It is also worth looking into current crypto regulations in Japan. While cryptos are not legal tender or issued by the central bank, they are permitted for use and some commercial Japanese banks have embraced crypto’s underlying technology. Crypto use in the country falls under the jurisdiction of several agencies such as the Japanese Financial Services Agency (FSA). All exchanges that want to operate in Japan have to register with the FSA and follow all of its guidelines. Crypto income is classified as “miscellaneous income” by Japan’s National Tax Agency and the amount to be paid depends on how much was made through crypto. However, crypto income made from mining and DeFi lending, or trading must be reported to the agency and tax must be paid on it.

And what cryptos are Japanese people buying into? Currently, tokens like XRP and Bitcoin are favoured in Japan, as are others like Ether and Dogecoin. This is mostly unsurprising as these tokens are globally known and have a plethora of use cases. And while there are smaller tokens like MonaCoin that are very popular in Japan, the top tokens still dominate the market. 

When Japanese people hold these cryptos, they use them for a wide variety of purposes. Several businesses like Mezzo in Tokyo, Mint, T’s Kitchen, and Dot Raw accept cryptocurrency for their products and services and this fits right in with Japan’s crypto-loving population. Then there is cryptocurrency gambling, which has really taken off in the last few years. Online casinos like those featured in updated lists on business2community.com are increasingly accepting cryptocurrency. In fact, there is a growing crop of online casinos that only accept crypto for placing bets. And as more Japanese people are embracing crypto, we can only expect these to become more popular. 

Japan also looks to be making more strides in supporting the crypto industry on an institutional level. Just a few weeks ago, it was reported that Japan would begin allowing companies to raise funds using crypto instead of stock, which is good news for firms operating in the country. 

Japan has shown itself to be a welcoming country for the crypto industry thus far and if it continues on its current trajectory, it can achieve even more in the next few years.


How to Wash your Hanten

“Do I have to have my hanten dry cleaned?” is a question we sometimes get here at Japan Store. Fortunately, the answer is no. But if you just stick it in the washing machine, it will suffer some damage, especially to the cotton padding. And of course the insulation quality of the padding is a major reason why you wear the hanten in the first place, right? So read on and we’ll explain how a few simple steps can ensure that your hanten stays warm and clean for years to come.

Wash a hanten1. With the hanten folded as shown in the photo, handwash in a sink or large basin. Gently push it into the water until it is soaked through, and remove any obvious dirt and stains. Use cold or warm water and a mild (neutral) detergent. Bleach is a definite no-no.

Wash a hanten2. Without squeezing too vigorously or stretching the fabric, drain the water from the hanten. Place in a laundry net large enough to hold the folded hanten as shown.

Wash a hanten3. Use your washing machine’s spin feature to drain most of the remaining water from the hanten. Use the shortest spin cycle setting. Ensure that you do not use your washing machine’s dryer feature if it has one, as this will damage the cotton padding.

Wash a hanten4. Hang out to dry, outdoors if at all possible and as shown in the photo. The more the hanten is spread out, the better it will keep its shape and the less likely that the cotton padding will dry in clumps. Hang until the outer fabric is dry, then turn over to expose the inner lining and allow to dry fully. This will ensure that the cotton padding dries and retains its volume.

Wash a hanten5. If you must dry the hanten on a hanger, make sure it is a rounded type and not a skinny type as shown. Again, this will help the hanten maintain its shape and prevent the padding from drying in clumps.

Occasional washing as described above will ensure that your hanten stays as warm and stylish as the day you bought it. See our selection of mens and ladies hanten.


How to Wear Tabi

Tabi are the traditional split-toe footwear of Japan, and are worn by both men and women. They’re worn by themselves when indoors, and with a wide variety of footwear – such as geta, zori or setta sandals, or jikatabi boots – when outdoors. Plain tabi, in white, black or navy, are the most common but they also come in many different colorful patterns.
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You can find a huge selection of all of these footwear items in our Japan Store.

Putting on tabi can seem a bit tricky until you get used to it. So we put together this quick visual guide to the easiest way to wear tabi. As you might spot from the photos, tabi fit more like socks than shoes so it’s important to get the right size. Basically the size you choose should be just a few millimeters longer than the length of your foot. See this page for more info on how to choose your tabi size.
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The photos below are of a regular cotton tabi, but it works exactly the same way for jikatabi as well. When wearing medium or taller jikatabi, if you find they’re too tight around the ankle and/or calf, you can use our Hase Plus to give you an inch or more room and ensure a perfect fit!
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And if your tabi or jikatabi are a little too loose, you can try wearing them with tabi socks or toe socks. Tabi insoles and insulating liners are another way to adjust the feel and fit of your jikatabi.

How to wear tabi - 11. Fold the tabi upper toward the toes until it is about 3-4cm behind the split between the toes (red line). The seam should line up with the split (purple line).

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How to wear tabi - 22. Holding the point on both sides where the upper and the sole meet, slide your foot into the tabi, ensuring that your big toe and other toes fit into the split toe area separately.

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How to wear tabi - 33. Raise your heel and pull both sides of the tabi upper where it meets the sole. Your toes should now be fitting snugly with little or no wrinkling of the tabi material.

How to wear tabi - 44. Sit and place your heel on the floor facing away from the opposite leg. Flex your ankle so that your toes point upward.

How to wear tabi - 55. Grasp the tabi around your ankle with the same hand (ie. for right foot use right hand) using your thumb to hold down the rear flap of the tabi containing the cotton hooks.

How to wear tabi - 66. With the opposite hand place the kohaze (metal tabs) into the correct cotton hooks. Start with the bottommost kohaze and work up. Most tabi have 4 or 5 kohaze. This is the trickiest part and will get easier with practice. It is important to get all the kohaze correctly fitted to ensure that the tabi will not easily come off.

How to wear tabi - 77. You’re done! If you’re wearing tabi for the first time, they may feel strange or even a little uncomfortable between the toes but you will quickly get used to this. Only tabi that are specifically “stretch tabi” are made of a material that will stretch somewhat like a sock. But even regular cotton tabi can be stretched slightly by pulling them diagonally both ways before wearing them. There will probably be some slight shrinkage when they are washed.