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# Japan

Often seen as a geographical hotbed for technological innovations, it's no wonder that Japan is rivaled only by its neighbor South Korea when it comes to its prominence on the global cryptocurrency scene. In addition to Japan’s traditional role in leading the tech charge in various sectors, the country’s interest in cryptocurrencies was followed by clever regulation of the nascent market which is often reported in the news across the globe. Japanese businesses are increasingly integrating cryptos in their financial systems, using them for the payment of transaction and wages. Betting big on the role of regulations, the Japanese have also established the self-regulating Japan Virtual Currency Exchange Association (JVCEA) while its Financial Services Agency plays a prominent role in dealing with cryptocurrency industry in this Asian country.