Shiba Inu (SHIB) jumped over 12% to $0.00004250 on April 15 after Japan's Financial Services Agency (FSA) approved the token for use as a payment method, a landmark decision for the cryptocurrency.
"This approval from one of the world's most stringent financial regulators is a monumental step for Shiba Inu's global adoption," said a spokesperson from the Shiba Inu development team in a statement.
The approval means that merchants across Japan can now legally accept SHIB for goods and services. Data from CoinGecko shows the token's 24-hour trading volume surged by 60% to over $2.5 billion following the news. On-chain data from Nansen also indicated a 30% increase in active addresses interacting with the SHIB token in the hours after the announcement.
The decision by Japan's FSA could set a significant precedent for other major economies and their regulatory stance on cryptocurrencies like SHIB. The key level to watch for SHIB is the $0.00005000 resistance, a level not seen since late 2025.
The move is particularly noteworthy given the FSA's reputation as one of the most cautious and thorough financial regulators globally. This decision follows months of review and positions Japan as a surprisingly progressive jurisdiction for digital assets, especially compared to the regulatory uncertainty in the United States. The approval could pave the way for other altcoins to seek similar recognition in the country, potentially impacting the broader crypto market structure. For comparison, Bitcoin (BTC) has been legal for payments in Japan since 2017, but this is the first time a so-called "memecoin" has been given the same status.
This article is for informational purposes only and does not constitute investment advice.
