By CCN Markets: Line, the most widely utilized messaging application in Japan with more than 80 million users is set to receive approval from Japan’s Financial Services Agency as early as June to launch a crypto exchange, according to a Bloomberg report. In July 2018, Line launched a crypto exchange called “BITBOX” in Singapore with the intent of integrating LINK, the Line ecosystem’s native crypto asset. BitMax, Line’s new crypto exchange awaiting for an approval from local financial authorities, will launch in Japan to facilitate trades for local users. BITBOX has disallowed Japanese users from trading since its launch. Line
Years of growth, trillions in government bonds, and substantial capital sought from outside investors may see a U-Turn in the coming days as Japan’s prized economic policies were found to be reliant on fraudulent data. As per estimates, over 40 percent of Japan’s 56 economic policies contain errors, casting a shadow on all of the country’s analysis and reports generated over the years. Faulty Methods Research methodologies – for all their benefits – suffer from a critical point-of-failure; that of sampling a small set of respondents and basing conclusions on limited, oft-skewed responses. And it seems like an integral division
On January 7, CCN reported that the Financial Services Agency (FSA) of Japan is considering the approval of the country’s first Bitcoin exchange-traded fund (ETF). With the final deadline of the VanEck Bitcoin ETF on the horizon, could the approval of a Bitcoin ETF in Japan have an impact on the decision of the U.S.
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Japan’s Financial Services Agency is considering the approval of crypto exchange-traded funds (ETFs), according to a Bloomberg source.
The Financial Services Agency of Japan is considering approving exchange-traded funds which track digital assets, Bloomberg reports. According to sources who confided in Bloomberg, the financial regulator is at the moment gauging sector interest in exchange-traded funds tracking cryptocurrencies. This comes less than a month since the financial watchdog put aside plans for cryptocurrency futures.
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Japanese e-commerce giant DMM.com is reportedly exiting the cryptocurrency mining business due to “deteriorating profitability,” local media reported. This news follows an announcement by another major Japanese company, GMO Internet, that it will no longer manufacture and sell mining machines, citing similar reasons.
Out of the Mining Business
Japanese entertainment and e-commerce giant DMM.com Inc. is reportedly exiting the cryptocurrency mining business, according to local media. Toyo Keizai publication reported on Dec. 30 that DMM made a decision to exit the crypto mining business since September. “Deteriorating profitability is the main cause,” the publication quoted the company as saying, elaborating:
Monex Group, a major Japanese financial services company and the parent company of cryptocurrency exchange Coincheck, has unveiled its plan to launch a crypto exchange in the U.S. next quarter. The company has also shared its expansion plans for Coincheck in Japan.
Tokyo Stock Exchange-listed Monex Group (8698.T) held a business strategy briefing session on Wednesday to outline its U.S. expansion plan through its subsidiary Tradestation.
Citing “informed sources,” Japanese press outlet JIJI Press reports that the Japanese Financial Services Agency is soon to regulate Initial Coin Offerings. The regulation will involve investment limits “for better protecting them.” Similar to how securities tokens are required to register with the American SEC in the United States, companies which intend to issue virtual
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Cybersecurity researchers working for a subsidiary of Japan’s largest bank believe that they have found the hackers who stole $ 60 million from Japanese crypto exchange Zaif in an attack earlier this year. MUFG Investigates Zaif Hack According to a press release published on Monday, Japan Digital Design Co. (JDD) — a subsidiary of banking giant … Continued
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The Financial Services Agency (FSA) of Japan plans to cap the leverage for cryptocurrency margin trading.
Capping Cryptocurrency Margin Trading
According to the Nikkei Asian Review, Japan’s financial regulator is looking to reduce the leverage limit for cryptocurrency trading in the country. Reports also indicate that many stakeholders in the country are clamoring for such a lower leverage cap given the volatility of virtual currencies.
On Wednesday (October 24, 2018), the FSA recognized the Japan Virtual Currency Exchange Association (JVCEA) as a self-regulating body for the nation’s cryptocurrency exchange market. Back in July, a few months after the JVCEA’s formation, the call for limiting the leverage cap was the Association’s first proposition with a 4:1 leverage limit on margin trading.
Cryptocurrency exchange giant Coinbase isn’t concerned that Japan’s Financial Services Agency (FSA) has begun to view the crypto trading industry with a more cautious eye in the wake of several high profile exchange hacks on the regulatory agency’s watch in 2018. Speaking with the Nikkei Asian Review, Mike Lempres, Coinbase’s chief policy officer, said that
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Tech Bureau, the company behind recently hacked cryptocurrency exchange Zaif have been issued a third (and probably final) warning by the Japanese Financial Services Agency (FSA). The warning has come in the form of a Business Improvement Order, one that stipulates certain improvements that must be made to a financial based business otherwise they risk having their license to trade revoked.
Zaif fell victim to a $ 60 million hack
On the 14th of September, Zaif became the latest victim of crypto crime, with $ 60 million worth of Bitcoin, Bitcoin Cash and Monacoin stolen.
Japan’s primary financial regulator is expanding its team of 30 individuals screening license applications from cryptocurrency exchange operators to meet soaring interest at a time when mainstream companies like Yahoo, Rakuten and LINE are entering the sector. Speaking during a study group meeting centered on cryptocurrency on Wednesday, Financial Services Agency (FSA) vice commissioner for
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Japanese internet giant GMO has launched a live crypto trading platform via its subsidiary GMO Coin. This is the company’s third crypto exchange and trading service. Meanwhile, the group has established more mining facilities and has mined almost 3,000 BTC and over 660 BCH so far.
GMO Launches Live Trading Platform
GMO Coin, the crypto subsidiary of Japanese internet giant GMO, announced Wednesday, September 5, the launch a live trading platform.
Mitsubishi UFJ Financial Group, one of the world’s largest financial groups, has been experimenting with using its own cryptocurrency, the Mufg coin, for payments at a convenience store for employees. This week, a local publication reported on the progress of the experiment.
Payments at Convenient Store
Mitsubishi UFJ Financial Group (Mufg) has been experimenting with its digital currency, the Mufg coin. A convenience store for employees only, located at the group’s headquarters in Tokyo, has been allowing Mufg employees to pay with these coins. The Sankei Shimbun visited the store and reported this week that the experiment “is quietly advancing.”
The Japanese National Police Agency is reportedly installing a system to track the flow of crypto transactions in order to aid investigations of cryptocurrency-related cybercrime. The system is expected to be limited to major cryptocurrencies, according to local media.
Tracking Crypto Transactions
Japan’s National Police Agency (NPA) announced on August 30 that it “has mapped out a policy to introduce software next fiscal year to visualize the transaction history of virtual currencies in the face of increasing money laundering, massive theft and other cases related to cryptocurrencies,” the Yomiuri Shimbun reported.
Japanese internet giant GMO has switched its entire mining capacity from Bitcoin Cash (BCH) to Bitcoin (BTC) as of July 2018.
GMO Mines 568 Bitcoin Blocks In July
A copy of the company’s monthly mining report uploaded to social media by cryptocurrency business investor Trace Meyer confirms that in July, GMO mined 568 Bitcoin blocks and 0 Bitcoin Cash blocks.
The result of a sliding trend throughout this year, the statistics contrast sharply with the company’s strategy as it appeared in January when it mined just 21 Bitcoin blocks but 213 Bitcoin Cash blocks.
Japan’s GMO Internet has unveiled new priorities for its cryptocurrency business along with the performances of its crypto exchange and mining operations. The changes going forward result from the bear market and increased total hash rate.
GMO Coin Profits Up 7.3-Fold
Japanese internet giant GMO published its second-quarter results for this fiscal year on Thursday. The report details the performances of the company’s cryptocurrency operations as well as changes in future plans.
The company has already collected more than $ 2 million through a private sale of its coins. This is not surprising, as this platform has the potential to turn the cryptocurrency market on its head in several different ways: secure mining, storage of a large amount of data using gadgets around the world, and financing of blockchain through the creation and development of decentralized applications (DApps).
As more and more people get interested in blockchain and become familiar with this technology, the need on the market for projects that offer users simple funding solutions is gradually growing. Module was devised specifically to help people launch their businesses on blockchain using its convenient platform for creating decentralized applications (DApps), its high-speed and inexpensive set of solutions, and its honest and understandable mining.
Japanese internet giant GMO has launched a new, upgraded model of its bitcoin miner equipped with 7nm ASIC mining chips. The previous model was sold out. The new model can achieve a higher hash rate and has a “hash power optimization function.” It is for sale at the same price as the previous model.
GMO miner B3 Launched
GMO Internet Group announced Monday the launch of its new model of 7nm bitcoin mining rig, GMO miner B3. As with its predecessor, GMO miner B2, the new model uses “the mining ASIC of the 7nm process GMO72b” which supports “cryptocurrency mining of SHA256 and can execute mining of bitcoin and bitcoin cash.”