While the World Cracks Down, Japan Emerges as a Crypto Haven

Japan’s emergence as a global center for cryptocurrencies didn’t start with open-minded lawmakers or prescient investments by the country’s financial giants. Instead, it began with an American felon who arrived in the country looking for a fresh start.

Roger Ver came to Japan in 2006 after getting out of prison for selling explosives online and stumbled upon bitcoin in its early days. He became an enthusiastic supporter who threw parties and gave away coins to encourage their use. He also forged a relationship with Mark Karpeles, a young Frenchman in Tokyo who bought Mt. Gox -- then the world’s largest bitcoin exchange -- and relocated its headquarters to the city. (Ver and Karpeles are featured on this week’s Decrypted podcast.)