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Published new draft report on ICO regulations, self-regulation, 'deemed dealers', security measures, and addressed the problem of hacking. The Financial Services agency does not consider stablecoins as cryptocurrencies based on the Payment Services Act. The FSA grants JVCEA the right to self-regulate.

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Japan Is No Joke When It Comes to Crypto

Japan is a country that takes cryptocurrency very seriously, and its latest string of regulatory moves is proof of that. Japan Takes No Guff from Crypto Exchanges Recently, the country’s Financial Services Agency (FSA) raided two cryptocurrency exchanges to investigate their operations following switches in management. Among the factors examined for each were their anti-money laundering (AML) and customer protection tactics. The organization has been working hard since January 2018 to ensure cryptocurrency investing is safe for all involved. The FSA got involved in cryptocurrency exchanges that year following the Coincheck hack. Widely considered the largest cryptocurrency exchange theft in the history of the space, Coincheck ultimately saw over $500 million in crypto funds stolen overnight thanks, in part, to its lagging hot wallet storage procedures. Japan was still recuperating from the 2014 hack on Mt. Gox. That attack resulted in over $400 milliion in cryptocurrency funds disappearing, many of which have still not been recovered. Now home to two of the world’s largest and most notorious crypto thefts, Japan decided enough was enough, and requested the FSA become involved in the space. It wasn’t long before several crypto organizations and exchanges began receiving threatening letters from the FSA telling them to shape up or ship out when it came to enhancing security tactics and customer protection protocols. The two exchanges examined by the FSA as of late include Huobi Japan and Fisco Cryptocurrency Exchange Inc. At press time, both organizations have been barred from speaking to media outlets about the event. The FSA claimed in a statement that it was working to ensure both companies were legally compliant with current regulations following the changes in management. Huobi Japan came about in 2018 after the Singapore-based Huobi Group garnered Bit Trade, a government-registered crypto exchange. Fisco, on the other hand, is owned by the JASDAQ-listed Fisco Ltd, a financial information provider. That company had taken over another government-registered exchange known as Zaif, which was originally owned by Tech Bureau. Zaif suffered a cryptocurrency theft that resulted in over $60 million in total losses. Has Japan Set the Regulatory Standard? Japan is the first major country to regulate cryptocurrency “at a national level,” beginning this streak in late 2017. The country swears that it is not looking to limit technological innovation but is instead trying to ensure all customers remain safe while trading. Thus, all exchanges are required to register with the FSA before they can conduct business within Japan’s borders. The country is now slated to lead the upcoming G20 Summit this year, which is slated to take place on June 28 and 29. Regulators will share their upcoming crypto legislation with the finance ministers and central bank governors at the event to potentially educate further nations regarding how crypto should be monitored. The post Japan Is No Joke When It Comes to Crypto appeared first on Live Bitcoin News.
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Japan’s FSA Reportedly Investigates Huobi And Fisco Crypto Exchanges Due To Admin Changes

Japan’s Financial Services Agency Reportedly Investigated Huobi And Fisco Crypto Exchanges The Financial Services Agency (FSA) in Japan is the country’s financial watchdog, keeping an eye on the activity of the market. A Reuters report on April 23rd states that “two sources familiar with the matter” indicated that the FSA had been looking into two […]
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Japan Ready To Help G20 Nations With Crypto Regulation Guidelines And Solutions

Japan Ready To Help G20 Nations With Crypto Regulation Solutions Japan is one of the first and among the very few with some of the finest crypto regulations in place, which makes it one of the crypto capitals of the world. To understand the dominance of Japan on the crypto space consider this, a few […]
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DIGEST

Own coins by JPMorgan and Mizuho Financial Group, concerns about the crypto adoption, Solidus Labs to beat crypto manipulation, Bitmain's novelty, yen as the most traded currency for BTC, Visa and Mastercard taxes update, Craig Wright's surprise and MEW crypto-to-fiat swap without KYC

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DIGEST

Updates on Shift Card, Bank of Lithuania and ETF rules in Indonesia, police to tackle some crimes in Canada India and Turkey, IIT Bombay to join Ripple's UBRI, UAE waste permit portal on blockchain, Germany's interest and Spain's skepticism, Oracle for Czech SDK.finance

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DIGEST

Vlad Nistor is arrested, Switzerland to relax laws, Iran affirms blockchain can help, France rejects tax changes, Russia allows to invest in ICOs, Italy suspends two crypto companies, Hong Kong considers stricter laws, Abkhazia requests mining regulations, Japan publishes a new crypto regulation draft, Russian lawyers to help the crypto industry, France blacklists four crypto websites, Bahrain issues a crypto regulation draft, Russian will not amend its crypto bill

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DIGEST

India thinks whether to ban or not BTC, Upbit states the importance of crypto regulation, Dutch central bank to regulate crypto companies, Spain is preparing a draft regulation bill, South Korea convenes for debate with seven crypto exchanges, Chile declares that crypto regulation is in progress & other news on regulation

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DIGEST

HKEX plans to create a blockchain platform, Taiwan implements new amendments to AML and CFT laws, SEC ceased over dozen illegal ICOs, RFB demands monthly reports from crypto exchanges, Petro recognized as a legal tender, crypto industry to regulate itself in Japan, HSBC and RIL settle India’s first LoC transaction on blockchain, ASB settles New Zealand’s first export deal using blockchain

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DIGEST

Tether destroyed 500 million USDT, Swissquote allows ICO participation, Coinbase added its first stablecoin, IDEX to block NY users, Vertex Ventures invests in Binance, the biggest crypto theft in Australia, Sony creates contactless hardware wallet, Japanese crypto exchanges got a self-regulatory status, Bitcoin Futures still lack volume — in this weekly news

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DIGEST

Russia edits its draft law on cryptos, Japanese crypto exchanges gain power to self-regulate, Albania plans for regulatory framework, FATF to come up with its first set of crypto rules, CGL partners with National Bank of Canada and Skuchain, China plans implementation of new rules, SEC confirms the launch of FinHub, owner of Unocoin arrested for operating BTC ATM

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BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The cryptomarket is going through some good times, recovering from the sharp fall it had during 2018. The recovery of the global marketcap, and the high number of developments around cryptos and blockchain technologies has led many analysts to claim that we are close to witnessing not only a stabilization of the markets but also a bullish trend in the short term. Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments. BTC is Having a Great Week BTC has experienced a significant price increase. After a period of constant “Bart Simpsons”, it finally seems that the most important cryptocurrency in the world broke the 5k resistance. This marks an a crucial milestone as it is a a value that could not be reached for months. However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token. BTC. 30 minute candles. After the big green candle, 5580 has become a new support Bitcoin (BTC) 1day candles. courtesy Tradingview Cardano (ADA) Also Shows Some Positive Signs Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token. One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region. According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city. Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile. The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.
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USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets

April 23rd, 2019, Frankfurt, Germany – USDX Wallet is a mobile-first instant transfers solution powered by blockchain technology. It targets crypto holders, allowing individuals to send and receive funds quickly and fee-free. It also covers the needs of an unbanked audience, and those who don’t want to pay commissions within traditional money transfer mobile apps. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by the USDX Wallet is based on the BitShares protocol and allows 100,000 transactions per second. USDX and LHT Tokenomics The payment system has two cryptocurrencies at its core: USDX token and LHT coin. The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a smart contract. USDX is collateralized by the system’s core cryptocurrency, LHT. The total supply of LHT is 1 billion coins. LHT coins will be released gradually to the market; only 10% of the LHT supply will be issued each year, of which 5% will be freely tradeable and 5% will be locked on the blockchain to provide 200% collateralization. Recent Developments USDX Wallet has not held any private sales or presales, as it has received a sufficiently large venture investment. Future profits of the project will come from business account fees. From December 2018 to January 2019, there was an airdrop that attracted tens of thousands of participants. At the moment, USDX Wallet has surpassed 50,000 verified accounts. For the last several months the team behind the app have been implementing integration with crypto exchanges. The first platform to list LHT will be ExMarkets exchange, with two more exchanges to come. On Exmarkets, LHT will be available in trading pairs with Bitcoin (LHT/BTC) and Ethereum (LHT/ETH). About Exmarkets ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad. Recently, ExMarkets was granted two operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of the few certified players in the market. Also, ExMarkets supports EUR (SEPA transfers) deposits to the cryptocurrency exchange and is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity. It takes only a few minutes to set up an account; users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, and tokens. ________________________________ For more information on USDX Wallet, visit https://usdx.cash. The free USDX Wallet app is available on Google Play and the App Store. Follow USDX Wallet on Medium, Twitter, Facebook and Telegram. ExMarkets platform https://www.exmarkets.com/. Media Contact Details Contact Name: Maria Lobanova Contact Email: mlobanova@usdx.cash Partnership Request Details Contact Email: partners@usdx.cash USDX Wallet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of stable value, or of any value at all. Disclosure: This is a sponsored press release. The post USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets appeared first on NullTX.
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