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Huobi Resumes Operations in Japan as a Fully Regulated Exchange

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Huobi is back in Japan, this time as a fully regulated exchange under Japan's Financial Services Agency (FSA).

Following its merger with BitTrade, Huobi Japan Holding Ltd. is now among the first batch of 17 to receive registration under the FSA and is able to relaunch Huobi Japan.

Leon Li, Huobi Group founder and CEO, called the launch an “important milestone” in a statement, adding that the Japanese market remains important to the group and that working with its “regulators is a longstanding priority for Huobi Group.”  Read more...

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Japan Not Considering Approval of Bitcoin ETF, FSA Denies Reports

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According to a spokesperson from the Financial Services Agency (FSA), Japan is not considering the approval of a Bitcoin exchange-traded fund (ETF). Speaking to Bitcoin.com, an FSA representative said: There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them. Japan Doesn’t See

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Japan Reveals Expectations for Crypto Industry Self-Regulation

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Japan Reveals Expectations for Cryptocurrency Industry Self-Regulation

In an exclusive interview with news.Bitcoin.com, Japan’s top financial regulator revealed its expectations for the self-regulation of cryptocurrency exchanges in Japan. The agency has approved a self-regulatory organization, which it is working closely with to ensure compliance. All 16 regulated crypto exchanges in Japan are members of this self-regulatory organization.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Working Together

Japan Reveals Expectations for Cryptocurrency Industry Self-RegulationJapan’s Financial Services Agency (JFSA), the country’s top financial regulator, has granted the Japan Virtual Currency Exchange Association (Jvcea) self-regulatory organization (SRO) status under the Payment Services Act.  Read more...

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Japan Publishes Draft Report of New Cryptocurrency Regulations

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Japan Publishes Draft Report of New Cryptocurrency Regulations

Japan’s Financial Services Agency has published its draft report outlining new cryptocurrency regulations. The report contains measures in areas that are not currently addressed in existing laws such as hacking incidents, self-regulation, deemed dealers, privacy coins, and margin trading.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

New Crypto Regulatory Framework

Japan’s top financial regulator, the Financial Services Agency (FSA), published a draft report outlining the country’s new regulatory framework for cryptocurrencies and initial coin offerings (ICOs) on Friday. The report, which was discussed at the agency’s 11th study group meeting, contains recommendations from the previous 10 study group meetings. According to local media, there was no major objection to the proposed measures in the report so the FSA is expected to draft regulations based on its content.  Read more...

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Japan to Force Crypto Exchanges ‘Tell on’ Suspected Tax Evaders

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The Japanese government is seeking to impose measures aimed at preventing cryptocurrency traders and investors from evading taxes on the income generated from trading these assets. According to The Mainichi, the measures would see the country’s tax body, the National Tax Agency (NTA), empowered to demand that cryptocurrency exchanges provide information concerning clients who are … Continued

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Could South Korea Follow Japan in Allowing Private Crypto ICOs?

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On November 26, the Financial Services Agency (FSA) of Japan held an internal meeting to discuss the possibility of allowing private crypto initial coin offering (ICO) projects. Nikkei exclusively reported that local financial authorities are actively exploring the legalization of ICOs for institutional investors and accredited investors, as long as they are lawfully conducted within

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Japan Unveils Plans to Regulate Initial Coin Offerings

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Japan Unveils Plans to Regulate Initial Coin Offerings

Japan’s Financial Services Agency has held several meetings to discuss how to best regulate initial coin offerings. In addition to registration requirements, the regulator reportedly plans to amend two existing laws that can be applied to token sales.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Registrations and Law Changes

The Financial Services Agency (FSA), Japan’s top financial regulator, “is set to launch regulations on initial coin offerings [ICOs],” Jiji Press wrote on Saturday. Sources told the news outlet:

The FSA will require business operators that issue their own
cryptocurrencies to be registered with the agency.  Read more...

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Philippine Crypto Valley to Attract Companies From Japan, Korea and Australia

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Philippine Crypto Valley to Attract Companies From Japan, Korea and Australia

The Philippine government-owned Cagayan Economic Zone Authority has unveiled a plan to attract Japanese, Korean and Australian companies to its “Crypto Valley of Asia.” The authority is also cracking down on crypto companies operating within its economic zone without a license.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Ceza’s Crypto Valley of Asia

Philippine Crypto Valley to Attract Companies From Japan, Korea and AustraliaThe Cagayan Economic Zone Authority (Ceza) announced last week its plan to attract companies from Japan, Korea, and Australia to its Crypto Valley of Asia.  Read more...

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TRON TRX Is Set To Take Over Japan

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Soundcloud Logo on Transparent Background Listen Here – https://soundcloud.com/cryptodaily/tron-trx-is-set-to-take-over-japan

One of the major targets for TRON is Asia. We get the feeling that for Justin Sun, the founder of TRON, TRX adoption across a number of Asian countries is sort of the dream and indeed, TRON does offer these countries a lot through the TRX currency and the TRON blockchain. In essence, TRX is very adoptable in Asia, as it is across the rest of the world.  Read more...

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Self Regulation For Crypto Industry Approved By Japan

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The financial regulators in Japan, Financial Services Agency has given its approval for the countries digital currency industry to regulate itself. The official announcement was made on the Japan Virtual Currency Exchange Dealers Association website on Wednesday. The FSA approval gives the association rights to set rules to safeguard investor assets, prevent money laundering and give operational regulations.

The announcement said it had received a certification as an accredited fund’s settlements corporation from the FSA. he explained that its self-regulatory powers will come into effect from Wednesday this week.

In the announcement it said:  Read more...

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Bank of Japan Deputy Governor Downplays Cryptocurrency Plans

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Masayoshi Amamiya, Bank of Japan’s Deputy Governor, stated on Saturday that it was unclear whether digital currencies could enhance the monetary policies of central banks.  He elaborated that the Bank of Japan had no plans whatsoever to issue a cryptocurrency. Ongoing Debate Mr. Amamiya said that there was “quite a hurdle” for cryptocurrencies to overcome

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SBI & Ripple Launch Blockchain Payment App In Japan

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SBI & Ripple Launch Blockchain Payment App In Japan

MoneyTap, the Ripple-powered payments app has officially gone live according to a tweet by the official account on October 3rd. The consumer-focused service was co-developed by the Japanese financial service SBI Holdings and Ripple.

On the MoneyTap website, the app will begin to use Ripple’s blockchain solution – xCurrent – to enable a domestic bank to bank transfers in real time. Account holders at SBI Sumishin Net Bank, Resona Bank and Suruga Bank will be able to send funds using the mobile app.

Continue reading SBI & Ripple Launch Blockchain Payment App In Japan at Crypto Daily™.  Read more...

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In Japan, Exchange Operators Shore up Investor Protections After Thefts

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The Japan Virtual Currency Exchange Association says it will tighten investor protection stipulations after a wave of hacks on digital currency exchanges.

Citing informed sources, the Japan Times reported the Japan Virtual Currency Exchange Association (JVCEA) has agreed to revise certain self-imposed rules to keep investors safe in the wake of hacks.

The JVCEA is set to place a cap on the number of cryptocurrencies managed, which will reportedly equal between 10-20% of customer deposits.

The decision largely comes after hackers managed to walk off with about $ 60 million dollar’s worth of digital currency from the Zaif exchange earlier in September.  Read more...

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BitPesa Sets Up Bitcoin Remittance Corridor Between Japan and Africa

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BitPesa Japan Africa Bridge

SBI Remit and BitPesa are collaborating to enable easy money transfer services between Japan and several African countries. The partnership sees the Bitcoin blockchain’s utilization as an enterprise remittance vehicle.

450K People Can Now Send Money to Africa With Bitcoin

According to Forbes, the agreement sees SBI Remit being able to offer its over 450,000 customers with the ability to send money to Africa using the Bitcoin blockchain. Thus, SBI Remit will use BitPesa’s enterprise payment framework to offer liquidity to small businesses in Africa.  Read more...

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Google Unbans Crypto Ads, Will Work With Regulated Firms in US and Japan

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Google, the $ 828 billion search engine behemoth, has unbanned crypto-related ads, allowing regulated companies to utilize its platform to advertise their products. In March, Google executive Scott Spencer stated that cryptocurrency investments have potential to cause harm in financial markets, leading the search giant to ban crypto ads. He stated: “We don’t have a crystal

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BitPesa, SBI Remit Partner for Blockchain Payments Between Japan And Africa

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BitPesa, a digital treasury management solution that leverages blockchain settlement to lower the cost and improve the speed of payments to and from frontier markets, has teamed with SBI Remit, Japan’s largest remittance service provider, to make it easier for Africans to buy Japanese products.   The two firms are leveraging blockchain technology to reduce

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Why The First 6 Months Of 2018 Have Been Devastating For Bitcoin Exchanges In Japan

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Why The First 6 Months Of 2018 Have Been Devastating For Bitcoin Exchanges In Japan

Breaking news out of Japan today comes as yet another cryptocurrency exchange is hacked, seeing around $ 60 million worth of Bitcoin, Bitcoin Cash and MonaCoin lifted from Zaif, a Japanese based cryptocurrency exchange.

We covered this story a little earlier on so therefore won’t harp on about Zaif too much. The big issue here is that when you actually assess the full scale of the damage of these hacks in Japan, the findings are frankly shocking.

Continue reading Why The First 6 Months Of 2018 Have Been Devastating For Bitcoin Exchanges In Japan at Crypto Daily™.  Read more...

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Japan Cryptocurrency Theft Cases Tripled in H1 2018, $530 Million Stolen: Police

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Barely before the ink had dried on the news that Japanese cryptocurrency exchange Zaif had been hacked and slightly less than US$ 60 million stolen, the National Police Agency (NPA) of Japan has released a report highlighting the vulnerability of Japan’s crypto space. According to the NPA, the number of incidents involving the theft of funds

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SBI Nears Launch Ripple Blockchain Payments App ‘MoneyTap’ in Japan

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Japanese financial services group SBI Holdings will launch its consumer payments application MoneyTap, on both Android and iOS, using Ripple’s blockchain technology. SBI Ripple Asia, a joint venture established by SBI Holdings and San Francisco-based FinTech giant Ripple in early 2016, will soon launch ‘MoneyTap’, CEO Takashi Okita revealed on his own Twitter handle. MoneyTap

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Huobi Acquires Licensed Cryptocurrency Exchange in Japan

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Giant cryptocurrency exchange, Huobi has acquired a majority stake in Japan-based BitTrade in a move that is aimed at significantly scaling the trading platform and giving it greater global recognition. Now based in Singapore, Huobi was originally founded in China in 2013 and has over the years grown beyond borders into a number of nations

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