Reuters: Japanese Regulators to Introduce New Rules Regarding Exchanges’ Cold Wallets

Japan’s Financial Services Agency (FSA) will reportedly introduce new rules regarding cold wallets for storing cryptocurrencies at crypto exchanges, Reuters reported on April 17.

Citing a source familiar with the matter, Reuters reports that the country’s financial regulator will reportedly require cryptocurrency exchanges to strengthen internal supervision of cold wallets — devices for storing digital currency which are not connected to the Internet.

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Japanese Court Finds Ex-Mt. Gox CEO Guilty of Record Tampering

Mark Karpeles — the former CEO of the now-defunct Bitcoin (BTC) exchange Mt. Gox — has received a suspended jail sentence after being found guilty of tampering with financial records. The news was reported by Bloomberg on March 15.

The Tokyo District Court has reportedly found Karpeles guilty of mixing his personal finances with those of the exchange in order to conceal the platform’s losses to hackers.

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Japanese IT Giant GMO Confirms Launch of Yen-Backed Stablecoin GYEN in 2019

Japanese IT giant GMO Internet has confirmed that it plans to launch its yen-backed stablecoin GYEN this year, Cointelegraph Japan reported today, Feb. 12.

The news was revealed during an earnings presentation to investors held today, after GMO released financial results for the fiscal year ending Dec. 31, 2018.

The firm’s founder and CEO,

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Japanese Exchange GMO Coin Set to Resume Bitcoin Cash Trading on ABC’s Chain

GMO Coin, a Japanese cryptocurrency exchange, has resumed Bitcoin Cash (BCH) trading with the BCHABC blockchain, Finance Magnates (FM) reports Dec. 3.

The exchange has reportedly “announced that it will be resuming BCH/JPY trading” tomorrow, Dec. 4. The trading had been “temporarily suspended” in an attempt “to avoid the disruption caused” by the recent Nov.

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Blockchain and Elections: The Japanese, Swiss and American Experience

Free and fair elections are one of the pillars of healthy democracies. From the United States to Sierra Leone, advocates of blockchain believe that the technology can bring a new level of transparency, fairness and efficiency to the electoral process. In spite of the enthusiasm of the blockchain community — and tentative support from political bodies — attempts to implement the technology have enjoyed mixed success and have faced impassioned criticism.

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Japanese Association Seeks Authority to Enforce Self-Regulation on Crypto Exchanges

Japanese Association Seeks Authority to Enforce Self-Regulation on Crypto Exchanges

Regulation

Japanese crypto exchanges may soon have an official self-regulatory body. The Japan Virtual Currency Exchange Association has applied with the country’s financial regulator to become the authority for self-regulation, with the power to enforce rules on its crypto exchange members.

Also read: Yahoo!

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Data Shows US Dollar, Not Japanese Yen, Is Dominating Bitcoin Trade

Japan may not be quite the cryptocurrency powerhouse that the world thinks it is.

A deep dive by CoinDesk has found methodological flaws in widely-cited bitcoin exchange data that appear to overstate the importance of the Japanese yen as a trading pair. Our analysis of trading data collected from July 26-30 suggests that the U.S.

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Japanese Firms Jointly Launch Corporate Crypto Accounting Tool

Taxes

Cryptolinc Co. Ltd, which develops and provides cryptocurrency management and calculation systems, and Miroku Information Service Co. Ltd, a financial and accounting system management and information service, have jointly created a crypto corporate accounting tool for corporate cryptocurrency accounting.

Also Read: Japan Tax Agency Says Individuals Earning $1,800+ in Crypto a Year Will Declare Tax

Cryptolinc Corporate Accounting Shares Data in Collaboration with Accounting Firm

Through a collaboration,

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Japanese Public Company Offering Loans Secured by BTC, BCH, ETH

Finance

A Japanese company listed on the Tokyo Stock Exchange is offering loans secured by three cryptocurrencies: BTC, BCH, and ETH. Clients can borrow up to 300 million yen (~$2.7 million) at varying interest rates. The company has also established a subsidiary overseas for its crypto business.

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Blockchain Platform to Promote Japanese Culture Through Movies, TV Shows and Music

A blockchain-based company says it is seeking to cater to what it calls a growing demand for Japanese culture — creating animations, music, games and movies, as international interest in this industry grows.

According to MINDOL’s white paper, the country’s government is investing heavily in a “cool Japan” strategy, designed to showcase powerful content and enable a market already worth 12 trillion yen domestically (about $108 million) to generate even more revenue from devoted fans in the U.S.,

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Japanese Cryptocurrency Exchanges Plan Limits on Borrowed Margin Trading


Japan’s primary self-regulatory body for cryptocurrency exchanges is finalizing a proposal to enforce a limit on the amount of funds investors can borrow for margin trading of cryptocurrencies.

The Japan Virtual Currency Exchange Association (JVCEA) is proposing a 4-to-1 limit on margin trading wherein investors will only be allowed to borrow up to four times their original deposit,

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Japanese Class Action Against Gambling Coin Claims $12m Damages

News

Withcoin, a virtual currency reportedly designed for casinos, and listed on the Hitbtc exchange around May, is accused of selling coins using a promotional video propagating alleged lies and misleading information. In April 2018, a video promoting Withcoin went viral on the internet, inviting investors to purchase in advance a coin that was going to be listed on a crypto exchange in May,

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Japanese Crypto Exchanges Working on Lowering Margin Trading Limits

Exchanges

Japanese cryptocurrency exchanges may soon set a strict limit on the leverage they offer for margin trading in order to better protect investors. The association comprised of 16 government-approved crypto exchanges is reportedly imposing a leverage limit as part of its self-regulatory rules. There will be a grace period and exceptions.

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Japanese Crypto Exchanges Push for Limit on Margin Trading Borrowing

A self-regulatory organization formed by cryptocurrency exchanges in Japan is proposing a limit on how much investors can borrow when margin trading.

According to a report from Jiji Press on Tuesday, the Japan Virtual Currency Exchange Association (JVCEA) has suggested domestic trading platforms enforce a restriction that investors can only borrow up to four times their deposit.

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Japanese Minister Denies Association with Cryptocurrency Firm Under Investigation


Seiko Noda, Japan’s internal affairs minister, denied having an interest in a cryptocurrency company under investigation and interfering in that investigation, according to a report in Asahi Shimbun. As a Cabinet minister, Noda could be accused of trying to influence a government investigation.

Noda acknowledged that one of her aides was present at a meeting on Jan.

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A Japanese Telecom Giant Wants to Use Blockchain to Store Contracts

Japanese telecommunications giant Nippon Telegraph and Telephone (NTT) may be looking to invent a new contract agreements system based on blockchain technology, according to a patent application published Thursday.

The world’s fourth-largest telecom provider details how it could use the application to store contracts without allowing for documents to be tampered with.

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Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation

Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation

News

Seiko Noda, Japan’s Minister for Internal Affairs & Communications, and Minister in charge of Women’s Empowerment, was questioned by the Japanese press on Thursday over her involvement with an unregistered cryptocurrency exchange, which was allegedly violating the Japanese fund settlement law.

Also read: Japan Tax Agency Says Individuals Earning $1,800+ in Crypto a Year Will Declare Tax

It was revealed on Thursday that,

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Japanese Internet Giant GMO’s New Web Bank Will Use Blockchain for Payments


Multi-billion-dollar Japanese tech conglomerate GMO has launched a new internet banking business that will use blockchain technology for faster and cheaper payments and financial services.

In an announcement [PDF] on Tuesday, the GMO Internet Group confirmed the launch of the GMO Aozora Net Bank in partnership with Aozora Bank Group,

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