Posts in category

Japan


Japan’s financial watchdog is reportedly planning to force improvements at a number of licensed cryptocurrency exchanges over perceived issues with internal systems, including anti-money laundering (AML) measures. According to a report from Nikkei on Tuesday, the country’s Financial Service Agency (FSA) intends to ensure full compliance with current AML rules at larger exchanges as their …

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A small Japanese village is turning to cryptocurrencies in an effort to bolster its economy. Nishiawakura – a village of approximately 1,500 people in the Okayama prefecture in Japan – revealed its plan last week to launch a regional initial coin offering as a way to secure funding. The municipality, in particular, relies on forestry …

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Japan has issued its first official rejection of a cryptocurrency exchange application. The announcement, released by the Financial Services Agency (FSA) on Thursday, confirms a report yesterday that indicated the regulator would move to reject FSHO’s application – its first such refusal – after it sent two suspension orders to the firm in March and …

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Japan’s financial market regulator is reportedly planning to issue its first ever refusal order to a business registration application filed by a domestic cryptocurrency exchange. According to a Nikkei report on Tuesday, a trading platform called FSHO will likely see its registration application denied by the Financial Service Agency (FSA) due to its previous failures to comply …

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Japanese IT giant Fujitsu says it has launched a blockchain-based data storage system that can be used by retail merchants to tokenize traditional promotional tools such as coupons and reward points. According to a press release published Wednesday, the system – currently being rolled out in Japan – can be integrated with the promotional activities of merchants in …

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Cryptocurrency startup Coinbase is officially headed to Japan. The company announced Monday that Nao Kitazawa would serve as chief executive of Coinbase Japan as part of its expansion roll-out to that market in a blog post. Coinbase first announced in 2016 that it would open services in Japan, following an investment of $10.5 million from a …

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Japanese financial giant SBI Holdings announced on Monday that its in-house cryptocurrency exchange is now live, after a months-long delay due to security concerns. Called VCTRADE, the service is currently only open for users who have pre-registered with the platform in October 2017, the company said in the announcement and expects it to be available for …

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In 2017, Japanese consumers filed over three times the number of enquiries about cryptocurrency trading and initial coin offerings than in the previous year, according to data released by Japan’s Consumer Affairs Agency (CAA). The numbers were disclosed at the second cryptocurrency exchange study group meeting hosted by Japan’s Financial Services Agency (FSA) on April …

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Monex Group, the Japan-based online brokerage firm that recently acquired cryptocurrency exchange Coincheck, said it is eyeing the development of its own blockchain platform, with an initial coin offering to follow. In its latest financial filing dated April 26, the firm, which also has U.S. and Asia-Pacific divisions, said its Japanese arm will spearhead the planned blockchain …

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A group of licensed cryptocurrency exchanges in Japan is looking to restore market confidence by adopting self-imposed rules. According to the Japanese news outlet Asahi Shimbun Tuesday, 16 exchanges that are currently registered with Japan’s Financial Services Agency (FSA) have formally launched a new self-regulatory organization dubbed the Japanese Cryptocurrency Exchange Association. Taizen Okuyama, president and CEO …

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In bid to reduce carbon emissions, a group of Japanese technology and energy firms is launching a pilot project aimed to allow consumers in rural areas to trade renewable energy over a blockchain-based platform. Scheduled to start in June this year and endorsed by Japan’s Ministry of the Environment, the project will be supervised by …

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San Fransisco-based cryptocurrency exchange Kraken has announced it is shutting its doors for investors in Japan. According to a statement released on Tuesday, the company said it will cease to provide exchange services to Japanese residents, with a planned cutoff date for final withdrawals penciled in for the end of June. Kraken added that overseas Japanese …

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BitFlyer, a major Japanese cryptocurrency exchange, announced Thursday that it will revise its trading and payment policies amid reports criticizing its existing know-your-customer procedures. According to a company announcement, starting from April 26, users registering online will not be able to send cryptocurrency assets or withdraw Japanese yen until their identity and address have been confirmed …

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Japan’s Financial Services Agency (FSA) has released domestic cryptocurrency trading statistics for the first time. According to data gathered from 17 cryptocurrency exchanges in Japan, as of Mar. 31 this year, the country has at least 3.5 million individuals that are trading with cryptocurrencies as actual assets. Among them, crypto investors in their 20s, 30s …

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Japan’s financial regulator has ordered two cryptocurrency exchanges in the country to halt their operations for two months due to insufficient know-your-customer (KYC) procedures. Effective immediately, the temporary ban will last until June 5 and June 7, respectively, for Eternal Link and FSHO, according to two administrative penalty orders issued by the Financial Services Agency …

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Japanese online brokerage Monex Group has confirmed a deal is in place to acquire cryptocurrency exchange Coincheck, which suffered a major breach early this year. According to Japanese daily The Mainichi, the deal will cost Monex 3.6 billion yen (around $33.5 million). Later this month, the broker will acquire 45.2 percent of Coincheck’s shares from its …

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A research group in Japan has put forward a series of proposals related to initial coin offerings, including those focused on investor protection and money laundering prevention. Spearheaded by a Tama University professor and general advisor Takuya Hirai, a member of Japan’s House of Representatives, the ICO Business Research Group features advisors such as Yuzo …

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Tokyo-based cryptocurrency exchange Coincheck, which suffered a major hack early this year, may soon be under new management. According to Nikkei sources, Monex – an online brokerage firm also based in japan – is considering buying a majority stake in the exchange. Under the possible deal, Monex would reportedly replace the management team and rebuild the Coincheck …

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Two cryptocurrency exchanges in Japan are reportedly set to cease operating amid growing regulatory scrutiny from regulators in the wake of a $500 million theft. According to Nikkei, two exchanges – Mr. Exchange and Tokyo GateWay – are withdrawing their applications to operate exchanges previously filed with Japan’s Financial Services Agency (FSA). No official statements …

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The Japanese arm of internet giant Yahoo! will open a cryptocurrency exchange “in April 2019 or later” local media Nikkei Asian Review reports today, March 23. According to Nikkei Asian Review, Yahoo! Japan will buy 40% of BitARG Exchange Tokyo next month, and immediately dispatch executives to lay the foundations for the exchange to launch …

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