A Japanese high court upheld the Tokyo-based lower court’s decision to reject the former Mt Gox CEO’s appeal. Mark Karpeles was arrested in 2015 and accused of “manipulating electronic data” and managed to duck embezzlement charges. The former boss of Mt Gox, Mark Karpeles, now has to face the music for his prior “manipulating electronic...Read More
Japan’s finance minister Taro Aso says he is opposed to reducing tax on bitcoin income to 20%, on par with stock dividends, arguing that most Japanese households find it difficult to invest in digital assets. The development suggests that Japan will uphold its current definition of cryptocurrency as miscellaneous income, whereby virtual currency is taxed...Read More
Ripple has been making headway in the financial sector across the globe. Especially Asia, and more particularly Japan, is a region of great interest. That situation will only intensify following a new XRP-based remittance solution launching in the country. FXCoin Sees Merit in Ripple and XRP Rumor has it that FXcoin is looking to become...Read More
With the recent coronavirus spread and its overall effect on the global economy, some people believe the powers that be are preparing a financial reset. During these times, a number of bitcoiners think a bitcoin-induced form of fiat currency demonetization will take place, otherwise known as ‘hyperbitcoinization.’ However, a few speculators believe digital assets in...Read More
The coronavirus outbreak led to new developments and restrictions in the past 24 hours. The 2020 Tokyo Olympic Games could be postponed, while India inserts a lockdown on 75 districts in its borders. The financial markets reacted adversely today, as U.S. futures and Asian stocks nosedived by up to 10% in some cases. Bitcoin is...Read More
Financial and monetary authorities in Japan are accelerating the process of creating their own digital currency. The Ministry of Finance, the Bank of Japan, and the Financial Services Agency have held an undisclosed number of meetings to establish a clear vision before eventually launching a central bank digital currency (CBDC). Japan Prepares For A Bank-Backed...Read More
Japan is seemingly following the footsteps of China to ensure that they are not left out in the race for government-backed cryptocurrencies. The country’s lawmakers will reportedly release drafted proposals tomorrow (Friday) for the creation of their own central bank digital currency (CBDC). Countering China’s Digital Yaun Japan initially became interested in issuing a digital...Read More
The sudden breakout of the coronavirus in China and its continuous spread might already be taking its toll on the local and even global economy. In a recent statement, the Japanese Economy Minister said that he believes corporate profits and factory production are taking serious hits. And while major indexes are charting losses across the...Read More
Despite taking the lead as the first major country to regulate and license bitcoin exchanges, Japan is home to some of the biggest thefts in the cryptocurrency sector. | Source: Shutterstock.com Before Bitcoin firm CoinExchange closed its doors last year in October, an undisclosed theft had occurred a year prior. The crypto firm said the...Read More
Far away from western eyes, Asian blockchain projects are thriving. A vibrant ecosystem of public and permissioned chains has sprung to life in Asia, aided by government and big business endorsement of distributed ledger technology (DLT). Many of these chains are virtually unknown outside of the region, yet enjoy high profile partnerships and endorsements in...Read More
Following the consensus reached at the G20 leaders’ summit on the importance of discussing better governance for the decentralized financial ecosystem, Japan’s top financial regulator is hosting a global blockchain conference to discuss the subject. The regulator is welcoming stakeholders from around the world to participate, including other regulators, open-source software developers, university researchers, and...Read More
Japan has long been a hotbed for crypto adoption. Not only is the pseudonym of Bitcoin’s creator, Satoshi Nakamoto, Japanese, but some of the largest cryptocurrency companies have called the Asian country their home over the past decade. That’s not to mention that Japan is a technologically advanced society ready to adopt innovation.It should come...Read More
Germany’s second-largest stock exchange and a major financial services group in Japan have partnered to expand their crypto operations in Europe and Asia. Boerse Stuttgart recently launched its crypto trading platform while SBI has been expanding its crypto business operations for several years. Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines...Read More
Leveraged trading, or margin trading, has always been rather controversial in the cryptocurrency industry. Japan’s Coincheck exchange is ending this functionality in the next few months. It is rather uncommon for cryptocurrency exchanges to end margin trading out of the blue. Coincheck Ends Margin Trading For most service providers, this is one of the primary...Read More
The Tokyo-based crypto exchange, Coincheck, announced that it is terminating its leveraged trading service, in a blog post this morning. Settlement and Transfer Deadlines The planned end date for leveraged crypto trading is 12:00 on Friday, March 13, 2020, by which deadline all open positions should be settled. Customers will then have until the end...Read More
The South Korean central bank is the latest in the list of national banks to reveal its intentions towards central bank crypto (CBDC). South Korea Joins Crypto Research Race According to local media, the Bank of Korea has begun hiring crypto-asset experts signaling that the central bank may begin developing its own CBDC. It added...Read More
In this regulatory roundup, we cover the U.S. SEC approving a bitcoin futures fund, the new IRS tax form targeting crypto owners, and several more steps taken by the U.S. government toward crypto regulation. We also cover India’s central bank digital currency plan, South Korea’s crypto taxation plan, and the European Commission’s announcement regarding stablecoins....Read More
Japan’s oldest brokerage firm has established a blockchain-related partnership with the operator of the nation’s most widely-used messenger service. According to the October 4 announcement, Nomura Holdings, the parent company of Nomura Securities, revealed it has invested in LVC, a subsidiary of South Korea’s Line, following an agreement finalized on September 24. The terms of...Read More
The cryptocurrency ecosystem isn’t averse to cases of serious financial crimes, including hacks which have often plagued cryptocurrency exchanges around the world. One of the largest hacks in the crypto-ecosystem was recorded by Mt.Gox exchange back in 2014, with the exchange losing over $450 million worth of digital assets. However, the Mt. Gox episode was...Read More
FINSUM 2019 kicked off today, at the Japanese capital of Tokyo. Organized by the NIKKEI INC, and Japan’s Financial Services Agency (FSA), the 3-day event is going to be a mega ‘fintech, blockchain, crypto and the future of finance’ bonanza. Yes, you read that right! Japan’s Financial Services Agency Loves Bitcoin and Lightning Network Bitcoin...Read More
Interest in cryptocurrencies like bitcoin tumbled 13.9% in Japan in the latest quarter, according to Japan’s financial regulator, the FSA. | Source: Shutterstock Interest in cryptocurrencies like bitcoin tumbled 13.9% in Japan, according to the country’s financial regulator. In data posted Sept. 3, the Financial Services Agency (FSA) says the volume of crypto-related inquiries fell...Read More
Salaries paid in decentralized digital coins have become a norm across the crypto industry, but there’s really no reason why cryptocurrencies can’t be used for remuneration by businesses in other sectors as well. In many jurisdictions that should be legal even in the absence of dedicated legislation. Switzerland, New Zealand, Japan and Estonia are a...Read More
There are many metrics to ascertain the popularity of bitcoin and cryptocurrency trading in different geographic regions across the world. One of them is the most traded fiat currencies chart which has revealed some interesting results. Asia Still Big on Bitcoin Unsurprisingly the US dollar was the top traded fiat currency according to statistics from...Read More
The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer examination, though, current realities like Australia’s proposed cash transaction...Read More
Japan is a prominent country for blockchain and cryptocurrency activity. So much even that government officials are building a new type of infrastructure. It is labeled as the “SWIFT of cryptocurrency”, although living up to those expectations won’t be easy. This new network will be used on an international scale and aims to thwart money...Read More
The demand for bitcoin has certainly been tangible over the past few months. Even with a correction of around 30% the digital asset is still up over 160% this year. That growth could have been spurred by central banks devaluing their own currencies as economic skies darken. Big Banks Boosting Bitcoin Demand and fervor for...Read More
Zaif, a Japanese cryptocurrency exchange, switched operator from Tech Bureau to FISCO virtual currency exchange from Aug 22, 2019. Zaif was hacked for about $60 million last year in September, so the management changed. The firm will refund BTC and BCH holders in their original cryptocurrency, but, due to liquidity issues, MONA holders will receive...Read More
Partnership between crypto exchange bitFlyer and tech services company Tpoint Japan allows local users to exchange loyalty points for Bitcoin. Cryptocurrency exchange bitFlyer and technology services company Tpoint Japan announced a new partnership that allows local customers to exchange loyalty program points for Bitcoin (BTC) and earn rewards for paying in crypto. The official press...Read More
A look at green policy and crypto energy consumption in Japan. Society is now witnessing the implementation of digital currencies, artificial intelligence (AI) and blockchain technology worldwide. These new digital technologies necessitate very high consumption of electric energy, which is currently produced with coal and fossil fuels that have adverse environmental effects. A global shift...Read More
