LUNC for readers in Japan: no yen pair, no registered venue

Japan is the one major Asian market where there is no legal domestic way to buy LUNC on an exchange. No exchange registered with the Financial Services Agency (FSA) handles Terra Classic, and that includes Binance Japan. There is no LUNC/JPY pair on any exchange in the world, so every yen price you see is a conversion from the dollar price.

Japanese residents who hold LUNC got it either before May 2022 on overseas platforms or later on offshore exchanges that are not registered in Japan, several of which have received FSA warnings. We do not recommend that route. The exchange behind the buttons on this site, CEX.IO, does not serve residents of Japan either. This guide explains the rules, the tax position and what we think a Japanese reader should actually do.

Why LUNC is missing in Japan

Every crypto exchange that serves Japanese residents must register with the FSA as a crypto-asset exchange service provider (暗号資産交換業者) under the Payment Services Act. The FSA register lists each firm and the assets it handles. On the register dated 30 September 2026, 27 firms appear, and none of them shows LUNC, LUNA or any Terra asset. We checked the big names one by one: Coincheck, bitFlyer, bitbank, GMO Coin, SBI VC Trade, BitTrade, OKJ, Binance Japan, Rakuten Wallet, Zaif, BTCBOX and Mercoin all show no LUNC.

The industry’s self-regulatory body, the JVCEA (日本暗号資産等取引業協会), keeps a handling sheet of about 130 assets that members handle now or handled in the past. It has no LUNC, LUNA or USTC row at all. That tells you something important: the original Terra token was never handled by a Japanese registered exchange, even before the 2022 collapse. The JVCEA also publishes a Green List of widely handled assets, such as BTC, ETH, XRP and DOT. LUNC is not on it.

So Japan did not delist LUNC the way Korea did. The coin never passed into the regulated market in the first place, and after the May 2022 crash there was little reason for any exchange to put it forward. For the full story of the crash, see our Terra–LUNA crash timeline.

FSA, JVCEA and the 2026 reform

Three bodies shape a Japanese LUNC holder’s options. The FSA registers and supervises exchanges. The JVCEA sets the self-regulatory rules members follow, including asset screening. The National Tax Agency (NTA) decides how gains are taxed.

Warnings about offshore exchanges. The FSA publishes warnings about unregistered overseas exchanges that solicit Japanese residents. Binance, Bybit, MEXC, Bitget, KuCoin and LBank are among those warned, and those are exactly the venues where LUNC trades. Using them means you have none of the protections Japanese law gives to customers of registered firms, such as segregated assets.

The 2026 reform. A bill moving crypto from the Payment Services Act to the Financial Instruments and Exchange Act (金商法) was enacted on 15 July 2026 and reportedly promulgated on 23 July 2026. It adds insider-trading rules and disclosure duties for crypto, and it takes effect by cabinet order within a year, so in practice during fiscal 2027. Nothing in the reform lists LUNC; it changes the rulebook, not the coin list.

Binance Japan vs Binance

A lot of Japanese searches, such as “バイナンス lunc 買い方” (how to buy LUNC on Binance), assume Binance is one exchange. It is not. Binance Japan is a separate company registered with the FSA (registration number 関東00031), and its handled-asset list does not include LUNC. The global Binance exchange does list LUNC/USDT, but it is not registered in Japan and appears on the FSA’s warning list.

That means a guide telling you to “buy LUNC on Binance” is, for a Japanese resident, telling you to use an unregistered overseas platform. Be careful with the ticker too: on Binance, “LUNA” is Terra 2.0, a different coin from LUNC. Our LUNC vs LUNA guide explains the split.

Where LUNC is and isn’t

This table sums up every route a Japanese reader might consider.

On Binance P2P we found a small number of yen ads for USDT, paid by bank transfer or PayPay Money, and no ads for LUNC itself. P2P adds risks of its own: your bank account can be frozen if a counterparty’s money is linked to fraud, and mule accounts used in 振り込め詐欺 (transfer scams) are a known problem. We do not recommend it.

The LUNC price in yen

Because no yen market exists, the board at the top of this page converts LUNC’s dollar price into yen. Think of it as a reference, not a price you could trade at. One LUNC is worth a tiny fraction of a yen, so the figure carries many decimals. A worked example with round numbers: if LUNC were worth 0.006 yen, then 1,000,000 LUNC would be worth 6,000 yen before any fees. The LUNC converter handles other amounts.

Searches like “lunc 将来性” (LUNC’s future) and “lunc 1ドル” come up often. We cover them honestly elsewhere: the price prediction page explains why most forecasts are guesswork, and the supply maths behind a $1 LUNC is on our $1 analysis.

How LUNC is taxed in Japan

Under current rules, crypto gains are 雑所得 (miscellaneous income). They are added to your other income and taxed at progressive rates that can reach about 55% including resident tax, and losses cannot be carried forward to later years. The NTA’s Tax Answer 1524 explains the basics. Gains on overseas exchanges are taxable in the same way; using an offshore platform does not remove the duty to report.

A change is coming. From 1 January 2028, a separate taxation regime (申告分離課税) at 20.315% with a three-year loss carry-forward is expected to apply to “specified crypto assets” sold through domestic registered operators. Sales on overseas exchanges or decentralised exchanges are expected to stay under the progressive rules.

What that likely means for LUNC is our inference, not a confirmed rule: since no registered operator handles LUNC, LUNC gains would most likely not qualify for the 20% rate unless a registered exchange lists it. Do not plan around a 20% rate on LUNC. Ask a Japanese tax adviser before you sell a large position.

Honest advice for residents of Japan

Our advice depends on where you start. If you do not hold LUNC, the simplest answer is that there is no regulated way to buy it from Japan, and we would not go around the rules to get exposure to a coin that lost almost all its value in 2022. If you already hold LUNC from before the crash or from an overseas account, the questions are about safekeeping and tax, not buying.

Our wallet guide covers native wallets, and the staking guide explains the 21-day unbonding period and real yields. For comparison, neighbouring markets show how different the rules can be: South Korea delisted LUNC in 2022, Singapore has no licensed venue that lists it, and Taiwan serves demand offshore. The Asia hub compares all eleven markets.

Readers outside Japan: start with USDT

This route is not available to residents of Japan. In other markets you can buy USDT by card, then trade it for LUNC on an exchange that lists it.

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