Japan's FSA just flagged crypto exchanges for pushing users toward their 'sales counters' (販売所) instead of order books.
Why this matters:
- Sales counters = wider spreads = you pay more
- Exchanges profit from the markup
- Retail gets quietly rekt on every trade
This is classic rent-seeking behavior. If you're trading in Japan, always check if you're using the order book or getting routed to their high-fee sales desk.
Transparency > convenience when it comes to your sats.
Why this matters:
- Sales counters = wider spreads = you pay more
- Exchanges profit from the markup
- Retail gets quietly rekt on every trade
This is classic rent-seeking behavior. If you're trading in Japan, always check if you're using the order book or getting routed to their high-fee sales desk.
Transparency > convenience when it comes to your sats.