Japan’s Minister of Finance thinks that it is doubtful the public would accept a change in the taxation of cryptocurrency transactions, Cointelegraph Japan reports today, June 25.
During the same meeting, Aso noted that the position of cryptocurrency in the international financial sector is uncertain.
He also spoke of the importance of the development of blockchain technology, but added that supporting the technology can be controversial, given that it underlies cryptocurrencies.
Japan’s Financial Services Agency (FSA) has been active last week, issuing business improvement notices to crypto exchanges as part of their ongoing regulatory inspections following the $530 million hack of Japanese crypto exchange Coincheck in January.
Today, the two vice-presidents of Japan’s self-regulatory cryptocurrency exchange body resigned after both of their respective exchanges received FSA business improvement notices last week.
The debate on allowing cryptocurrency to be used within Japan has been interesting, to say the least. While the nation has been capitalizing on the benefits that blockchain technology can offer, cryptocurrency has been a vastly different story.
Despite favorable regulation, Bank of Japan Deputy Governor Masayoshi Amamiya stated that digital currencies operators must comply with regulations on money laundering and risk management. The announcement was made in reference to the launch of Libra, the new global cryptocurrency from Facebook.
Several crypto media outlets have reported that Japan’s Mizuho, the country’s largest bank, and dozens of others are launching a blockchain product. According to Quartz, however, these reports are false in the extreme: J-Coin has nothing to do with cryptocurrency or even blockchain in general.
Japan’s Financial Services Agency (FSA) has reportedly revealed that 190 firms have shown an interest in becoming operators in the Japanese cryptocurrency market, which makes it a slight increment from the number of companies that had expressed their intention earlier in August, according to a report by Finance Magnates on December 28, 2018.
Japan’s Financial Services Agency (FSA) has granted the cryptocurrency industry self-regulatory status, reports Reuters. Japan’s Virtual Currency Association will now be responsible for policing and sanctioning digital money exchanges for violations.
Japan who’ve been considering legal aspects of cryptocurrency for quite a time, finally made its mind and granted an alliance of 16 crypto-exchanges with regulatory rights over the industry.
The post Cryptocurrency Industry Gains Self-regulatory Status in Japan appeared first on CoinSpeaker.
Japan has given formal approval for its cryptocurrency industry to regulate itself, the Japan Virtual Currency Exchange Association (JVCEA) confirmed October 24. JVCEA Can Police Exchanges In a significant development for the country, regulators opted to allow the JVCEA to ensure cryptocurrency exchanges followed legal requirements, a statement reads.
The ranking of cryptocurrency projects by the Chinese government has been revised with two new crypto projects added. EOS tops the overall list of 30 crypto projects; Ethereum fell to second place while Bitcoin dropped to 17th place.
How demographics, a mass of retirees, house prices and 1990s Japan all present a massive tailwind for the cryptocurrency markets as millennials come into their peak earning years.
How demographics, a mass of retirees, house prices and 1990s Japan all present a massive tailwind for the cryptocurrency markets as millennials come into their peak earning years.
Regulation As the start of the crypto banking ban by the Reserve Bank of India approaches, cryptocurrency exchanges in the country are preparing to stop fiat deposits and withdrawals while boosting crypto-to-crypto trading.
The Japanese Financial Services Agency (FSA) the team behind the new exchange regulation movement, are allegedly imposing further restrictions on a number of exchanges within Japan, who are failing to meet up with their new, strict regulations.
Japan’s Financial Services Agency [FSA] called for improved measures at cryptocurrency exchanges across the country. These measures were for the prevention of money laundering. This marks a concrete move into enforcing AML in Japan, as the regulator moved struck 6 exchanges with business improvement notices.
The Canadian province of Quebec has reportedly decided to charge cryptocurrency miners up to roughly three times the current price after they flooded utility Hydro-Quebec with requests for mining operations.
Markets and Prices Cryptocurrency markets are slumping today as most digital asset markets are seeing losses between 8-20 percent over the past 24-hours. Bitcoin Cash (BCH) markets are also down 12.
Cryptocurrency markets are slumping today as most digital asset markets are seeing losses between 8-20 percent over the past 24-hours. Lots of speculators are attributing the dump to the recent measures taken by Japan’s Financial Services Agency (FSA), asking cryptocurrency exchanges like Bitflyer to make improvements to the Japanese trading platforms’ anti-money laundering practices.
Japan’s financial watchdog has issued business improvement orders to six licensed cryptocurrency exchanges following on-site inspections conducted over recent months. As a result, bitFlyer has announced that it has temporarily stopped accepting new customers in order to reexamine the IDs of “certain customers.
Bitfyler, a premier bitcoin exchange in Japan will not allow new users on their platform until further notice. The new notice comes shortly after the Financial Services Agency (FSA), a regulatory body overseeing cryptocurrency exchanges, announced that it found loopholes in Bitflyer’s security system.
Japanese cryptocurrency exchange BitFlyer suspended new account registrations on June 21, after regulators demanded it improves its security arrangements. BitFlyer Hit With AML/KYC Cleanup A tweet and statement confirmed the move, which officials implemented as part of a Business Improvement Order from Japan’s Financial Services Authority (FSA).
Japanese cryptocurrency exchange BitFlyer suspended new account registrations on June 21, after regulators demanded it improves its security arrangements. BitFlyer Hit With AML/KYC Cleanup A tweet and statement confirmed the move, which officials implemented as part of a Business Improvement Order from Japan’s Financial Services Authority (FSA).
It has become apparent that the Japanese Financial Services Agency is closely monitoring all domestic cryptocurrency exchanges. Any wrongdoings will be pointed out quickly and the issues will need to be addressed accordingly.
Regulation Following multiple hack reports, the South Korean government explains how it will strengthen the regulatory framework for cryptocurrency exchanges. A bill has already been submitted which imposes multiple new obligations on crypto exchanges.
Following multiple hack reports, the South Korean government explains how it will strengthen the regulatory framework for cryptocurrency exchanges. A bill has already been submitted which imposes multiple new obligations on crypto exchanges.
With China to its west and Japan to its east, South Korea is surrounded by economic giants, but nonetheless remains a pivotal influence on the global cryptocurrency markets — for reasons that are not immediately apparent to most external observers
Japan’s Strategic Business Innovator Group [SBI Group] had unveiled its new plans for its newly launched cryptocurrency exchange. The company intended to kickstart the best cryptocurrency service for the country.
Japan’s Financial Services Agency (FSA) will be taking administrative action against several registered cryptocurrency exchange operators in the country. These exchanges include Quoine, Bitbank, BITPoint Japan, BtcBox, and industry leader BitFlyer, who authorities claim don’t have proper internal management systems in place, including measures to prevent money laundering.
Exchanges South Korean cryptocurrency exchange Coinrail has unveiled its plan to resume service despite surrounding controversies. The exchange reportedly removed a key part of its terms of service right before it was allegedly hacked, arousing suspicions.
Companies associated with the Japanese cryptocurrency industry are trying to increase consumer protection and transparency with a set of self-policing regulations. The rules aim to tackle issues such as insider trading and security compromises at exchanges amongst others.
South Korean cryptocurrency exchange Coinrail has unveiled its plan to resume service despite surrounding controversies. The exchange reportedly removed a key part of its terms of service right before it was allegedly hacked, arousing suspicions.
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.
Regulation The association comprising of 16 government-approved cryptocurrency exchanges in Japan has reportedly provided a sneak peak of its self-regulatory rules. The focuses are on banning insider trading and preventing exchanges from listing privacy coins.
Regulation The association comprising of 16 government-approved cryptocurrency exchanges in Japan has reportedly provided a sneak peak of its self-regulatory rules. The focuses are on banning insider trading and preventing exchanges from listing privacy coins.
The association comprising of 16 government-approved cryptocurrency exchanges in Japan has reportedly provided a sneak peak of its self-regulatory rules. The focuses are on banning insider trading and preventing exchanges from listing privacy coins.
Japan’s Virtual Currency Exchange Association (JVCEA) will reportedly be releasing new voluntary rules next week, Cointelegraph Japan reports today, June 18. The official announcement of the regulatory guidelines, set for June 27th, will reportedly include a ban on insider trading, penalizing cryptocurrency exchange employees if they engage in “inappropriate” trading due to their firsthand knowledge.
Japanese prosecutors from 10 prefectures have arrested 16 individuals suspected of involvement in an ongoing criminal case of cryptojacking, local news outlet The Asahi Shimbun reports June 15. Cryptojacking is the practice of using unsuspecting users’ processing power in order to mine cryptocurrency for the attacker. According to the report by Asahi Shimbun, the arrested
A crime thriller called Crypto is reportedly being filmed, featuring a money laundering agent and a case involving cryptocurrency. Among the cast of the movie are Hollywood actors Kurt Russell, Luke Hemsworth, Alexis Bledel, Beau Knapp, Jeremie Harris, and Vincent Kartheiser.
The recent announcement that Bittrex will allow investors to buy digital coins with the U. S. dollar is the latest in a string of crypto trading trends to move West from Asia.
Japan Confirms Entrance Into the Crypto Space Coinex: The Exchange That Uses Bitcoin Cash as Its Base Currency Most cryptocurrency exchanges use bitcoin core (BTC) as the base currency that is traded against various other digital assets.
The South Korean government is reportedly seeking to bring cryptocurrency exchanges under the direct supervision of the country’s Financial Intelligence Unit. This will obligate crypto exchanges to follow anti-money laundering directives like banks do.
As China cracked down on crypto exchanges and South Korea threatened to do the same, Japan stood out as a crypto-friendly nation. In 2017, Japan declared Bitcoin to be a legal form of payment and now has 16 licensed cryptocurrency exchanges.
A Dubai-based cryptocurrency exchange has reportedly become the first crypto exchange in the Middle East and North Africa (MENA) region to receive a regulatory sandbox license. The license was granted by the Central Bank of Bahrain and will take effect this week.
]In a fresh new twist, the Reserve Bank of India (RBI) has admitted to issuing its ban on cryptocurrency-related accounts spontaneously, without taking time to study and understand how cryptocurrencies work.
Finance Coinbase has opened up its index fund for accredited US investors, giving them exposure to all cryptocurrencies listed on its exchange GDAX. Japan Confirms Entrance Into the Crypto Space Coinbase Index Fund Launched Coinbase, one of the largest cryptocurrency companies, announced on Tuesday, June 12, that Coinbase Index Fund is now open for investment.
Coinbase has opened up its index fund for accredited US investors, giving them exposure to all cryptocurrencies listed on its exchange GDAX. The company is now working on “launching more funds which are accessible to all investors and cover a broader range of digital assets.
News The police in Japan are cracking down on the illegal use of personal computers for cryptocurrency mining. Multiple prefectural police departments are currently investigating one particular case and pursuing criminal charges, which would make it the first criminal case in Japan where computers are illegally used for mining cryptocurrencies. Japan Confirms Entrance Into the
The police in Japan are cracking down on the illegal use of personal computers for cryptocurrency mining. Multiple prefectural police departments are currently investigating one particular case and pursuing criminal charges, which would make it the first criminal case in Japan where computers are illegally used for mining cryptocurrencies.
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