According to PANews, the number of Japanese listed companies holding crypto assets is growing. As of May 2024, 31 companies have been involved in the field of crypto assets, which has doubled from 16 three years ago. One of the reasons these companies hold crypto assets is to value its value as an investment, and the second is to avoid asset shrinkage caused by the depreciation of the yen.
However, Japanese commercial companies still face two major obstacles in holding virtual currencies. The first is security issues, such as the attack on DMM Bitcoin in May. Commercial companies that handle large amounts of funds need to seek strong custody services. Another obstacle is accounting and auditing issues. Although the Japan Institute of Certified Public Accountants and the virtual currency industry organization Japan Cryptocurrency Business Association (JCBA) jointly held the "Joint Forum on Accounting and Auditing for Operators and Auditors" to enhance mutual understanding, there are still major differences between the two sides on some issues.
