The research conducted by Deutsche Bank’s Masao Muraki claims, that the cryptotraders’ community is dominated by midlle-aged Japanese men, previously active on foreign currency (FX) markets, despite the widespread myth about Japan’s “Mrs. Watanabe” housewife traders. 54 % of the global FX margin trading volumes is Japanese. Of those, 79 % are male, and 63 % are aged 30-49.
Additionally, according to the research, “Japanese retail investors are less financially literate” than U.S., U.K. and German traders, regardless of age group and gender. The survey also states, that Japanese traders prefer high risks and rewards and high volatility, which explains their interest in cryptocurrencies.
Last week Japanese National Tax Agency issued a written statement, which defines that cryptotrading profits would be taxed up to 54 percent as “miscellaneous” income, including profits from blockchain forks.