JVCEA Whitelist Listed Token Timeline (2017-2026)
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This entry sits under exchanges index. Read it against JVCEA Handled-Instrument Whitelist Framework — Token Listing Process + Green/Yellow Lists for peer / contrast context and FSA crypto-asset exchange registration system — number system / Local Finance Bureau jurisdiction / registration requirements for the broader system / regulatory boundary.
Overview
The JVCEA Whitelist is the list of crypto asset tokens that domestic VASPs (crypto asset exchange operators) are permitted to handle. From its simple composition centred on BTC/ETH at the time of the 2017 年 revised Payment Services Act, it has expanded to approximately 33 tokens as of 2026 年. A distinctive ecosystem has formed, reflecting domestically exclusive tokens, domestic first-listing tokens, and domestic-market-specific demand (JPY-pegged stablecoins, precious-metal-linked stablecoins, cultural tokens). Compared to the 350-2,376 tokens on overseas CEXs, the strict screening criteria (JVCEA 8 major standards) are a defining feature.
Timeline Key Milestones
- 2017-04 Revised Payment Services Act takes effect · Initial ~17 tokens including BTC/ETH/XRP/BCH/LTC/MONA/XEM etc.
- 2018-01 Post-Coincheck Nem Hack Detailed Analysis tightening · New listings effectively frozen for ~1 year(s)
- 2019-04 Terminology change: “virtual currency” → “crypto asset” (revised Payment Services Act)
- 2020-2021 Polkadot (DOT) / Chainlink (LINK) / Polygon (MATIC) etc. listed (DeFi summer reflection)
- 2022-06-09 Green List system introduced → listing review period shortened to 1-3 months (previously 6 months-1 year)
- 2023-04 XRP handling maintained (unaffected by US SEC vs Ripple litigation)
- 2024-2025 Solana (SOL) listed domestically · TON / SUI and other L1 tokens listed
- 2026-01-15 ZPG (Digital Asset Markets) + WILD (GMO Coin) domestic first listings
Domestically Exclusive and First-Listed Tokens
- ZPG / ZPGAG / ZPGPT (Digital Asset Markets, Inc. — Japan crypto-asset exchange operator overview) — Domestically exclusive precious-metal-linked stablecoins (gold/silver/platinum)
- NIDT (BACKSEAT, formerly coinbook) — Domestically exclusive
- MONA (Monacoin) — Japan-originating token from early days
- JPYC (JPYC Inc. — Japanese-yen stablecoin issuer (funds-transfer-operator type), funds transfer operator) — JPY-pegged stablecoin · 2026-04 Series B 28 億円
- KAIA (LINE Xenesis, formerly BITMAX) — Formerly LINK→Finschia→KAIA lineage
Overseas vs Domestic Token Handling Difference
| Exchange | Token count |
|---|---|
| [[exchanges/jp-foreign-exchange-mexc | MEXC]] (overseas) |
| Binance (overseas) | 350+ (spot) |
| [[exchanges/jp-exchange-coincheck | Coincheck]] (domestic top) |
| JVCEA Whitelist total | ~33 tokens |
The mixture of domestically exclusive cultural tokens (NIDT/MONA/KAIA) and overseas global tokens (BTC/ETH/SOL/DOT etc.) characterises the domestic market.
Strategic Implications
Domestic VASP Whitelist applications require several months of review cost + passing the JVCEA 8 major standards (technology, regulation, liquidity, AML, etc.). Post-listing liquidity is secured by the CEX itself acting as market maker (unlike overseas, no external market makers). After US BTC ETF approval (2024-01), institutional flow and domestic spot volume show a correlated trend. The Green List system has accelerated new listing pace, though it remains limited compared to overseas.
Related
- jvcea-whitelist-token-listing (Whitelist system details)
- jvcea-self-regulatory-overview
- jp-exchange-gmo-coin (WILD)
- jvcea-spot-volume-statistics-analysis