Reason for this visit

Japan has always been playing a leading role worldwide in terms of regulation over the cryptocurrency industry, and its clear regulatory policies have also created a good environment for the start-ups, leading to the rushing-in of many cryptocurrency exchanges. In order to help investors to get a more comprehensive understanding of the country's cryptocurrency brokers (exchanges), the survey team will go to Japan to conduct on-site visits to local brokers (exchanges).

On-site visit

In this issue, the investigation team went to Tokyo, Japan to visit the cryptocurrency exchange Payward Asia as planned according to its registered regulatory address that Sanyo Denko Building, 9-3, Nibancho, Chiyoda-ku, Tokyo, Japan.

The investigation team arrived at the destination on February 28, 2023, where an office building was situated in a traditional business district surrounded by a quiet environment. According to its address information, cryptocurrency exchange Payward Asia was located at Sanyo Denko Building in western Imperial Palace. But the survey team found that the building’s actual name was THE BASE instead of Sanyo Denko, its previous name.

The investigation team found that the company Payward Asia ran business normally on the 3rd floor according to its registered regulatory information. But people were not allowed to make a visit to the company without a permission from the reception desk. Finally, the survey personnel failed to reach the target floor.

Conclusion

The survey personnel went to Tokyo, Japan to visit the cryptocurrency exchange Payward Asia as scheduled, and spotted its physical business office at its registered regulatory address. Unfortunately, the survey personnel were not able to enter the company for a special visit, so the specific scale of its business is unknown. Investors are advised to make a sensible choice based on a comprehensive consideration.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.

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