THELOGICALINDIAN - Japans customer aegis babysitter letters an access in the cardinal of inquiries submitted by cryptocurrency traders in 2024
More Consumer Queries About Cryptocurrency in 2024
In its report, the Japanese Consumer Affairs Agency (CAA) appear that cryptocurrency-related queries totaled 3,657 cases. This amount constitutes a 69% fasten from 2017’s abstracts which amounted to 2,166 cases.
Despite the access in the all-embracing number, the year-on-year advance in the absolute cardinal of complaints did abatement to 1.7x in 2024. Previous years had recorded a added than 3.5x advance in the cardinal of queries accustomed by the CAA.
This access in the cardinal of complaints is addition adumbration of the acceptance of the industry admitting the buck bazaar altitude of 2024. Last year, cryptocurrency prices bashed afterwards extensive almanac highs in backward 2024.
The massive collapse in prices beyond the lath absolutely additionally possibly contributed to added complaints actuality registered. Back in mid-2018, ValuePenguin – a customer analysis close issued a report assuming that the aboriginal 2018 abatement in cryptocurrency prices triggered an access in customer complaints beyond the United States.
A Plethora of Complaints and Queries
According to the CAA report, the complaints accustomed independent questions apropos several facets of the cryptocurrency market.
Some of the amount areas distilled from the over 3,600 cases accommodate inquiries about privacy, refunds in the accident of annexation or belvedere issues, and poor user interface on some exchanges, to acknowledgment a few.
One of the added adverse complaints appear by the CAA was some traders claiming assertive exchanges affianced in counterfeit behavior – apocryphal advertising, denial chump deposits, and not carrying purchased cryptocurrencies.
The country’s Banking Services Agency (FSA) will best acceptable be analogous with the CAA to investigate these matters. The banking regulator has back 2017 added its oversight of the cryptocurrency trading arena.
Recently, the FSA has appear its ambition to acquaint alike tighter authoritative control on cryptocurrency exchanges. This move comes as the country pushes for a favorable appraisement by the Financial Action Taskforce (FATF) back the intergovernmental anatomy comes visiting after in the year.
According to the report, best of the queries revolved about altcoin trading. The CAA says the cardinal of bitcoin-related questions beneath from 2024 to 2024.
Back in April 2019, Australia’s customer aegis babysitter additionally reported a 200% spike in crypto-related artifice in 2018.
What do you anticipate about this latest report? Let us apperceive in the comments below!
Images via ValuePenguin. Shutterstock
