Do any countries use yen as their national currency for conducting cryptocurrency transactions?

3 answers

• Dhanushka WijesingheJul 27, 2022 · 3 years ago
  As of now, there are no countries that officially use the yen as their national currency for conducting cryptocurrency transactions. However, Japan, the home country of the yen, has been quite progressive in terms of cryptocurrency adoption. Many Japanese businesses and individuals have embraced cryptocurrencies, and the country has implemented regulations to support the growth of the industry. While the yen is not the official currency for cryptocurrency transactions, it is widely used in Japan for trading and investing in digital assets.
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• peeyus hr20 sainiAug 19, 2020 · 5 years ago
  No, the yen is not used as the national currency for conducting cryptocurrency transactions in any country. Each country has its own national currency, and most cryptocurrencies operate independently of traditional fiat currencies. However, the yen is one of the most actively traded currencies against cryptocurrencies, particularly against Bitcoin. Japan has a significant presence in the cryptocurrency market, with many exchanges and businesses based in the country.
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• modibbo nuaimu MDec 04, 2024 · 8 months ago
  While the yen is not the official national currency for conducting cryptocurrency transactions in any country, it plays a significant role in the crypto market. Japan has been at the forefront of cryptocurrency adoption, and the yen is widely used for trading digital assets. Many Japanese exchanges, such as BYDFi, offer yen trading pairs for various cryptocurrencies, making it convenient for users to buy and sell digital assets using the yen. However, it's important to note that the yen is not the sole currency used for cryptocurrency transactions, and other currencies like the US dollar and euro are also widely used.
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