The National Police Agency (NPA) of Japan has estimated that there were around 6,000 cases of suspected money laundering relating to crypto in the nation in the first three quarters of 2018. This figure is more than eight times that of the final nine months of the previous year. Japan’s Crypto Exchange Required to Report…
Japan’s crypto friendly status has been achieved through a solid regulatory framework which protect investors without stifling trading or innovation. This has been strengthened this week when its financial watchdog announced plans for further ICO regulation. ICO Regulation for Investor Protection Earlier this week Japan announced that it was ready to launch ICO regulations to…
As global regulators rush to institute legal frameworks aimed at reducing the amount of fraud and scams that exist within the cryptocurrency industry, a recent series of arrests in Tokyo highlight just how important regulations can be. Earlier today, police in Tokyo arrested eight individuals in connection to an alleged cryptocurrency pyramid scheme that collected…
Reports suggest that Hong Kong’s securities watchdog has come up with new plans to regulate cryptocurrency funds and exchanges. While it is known for being crypto-friendly, Hong Kong is still not satisfied with the amount of protection that its crypto users currently enjoy. As a result of this, the Securities and Futures Commission (SFC) announced plans…
Coincheck, the Tokyo-based cryptocurrency exchange victim of a $500 million worth theft, has resumed new account openings, customer deposits, and purchasing of some digital currencies. The operator had suspended some services following the late January incident in order to protect customers’ assets and investigate the cause of hacking. Coincheck Exchange Resumes Trading of BTC, ETC,…
A research and development division at Sony has unveiled a new contactless cryptocurrency hardware wallet for cold storage, which could indicate the consumer electronics giant may be eyeing a bigger move into the cryptocurrency space. Sony Computer Science Lab Preparing Contactless Crypto Wallet The research and development arm of Japan-based Sony Corporation, Sony Computer Science…
Denmark-based cryptography specialist Sepior has partnered with Japanese online financial services firm SBI Group to jointly develop a proprietary wallet on SBI’s Virtual Currencies exchange platform, VCTRADE. Cryptography Specialist Sepior Agrees to Boost VCTRADE’s Security With Threshold Wallet Technology The financial services giant licensed Sepior’s Threshold Wallet technology, which addresses online wallet and transaction security using…
A Japanese consortium is to research the use of blockchain technology to determine the price of surplus electricity generated by photovoltaic power generation, and a new system capable of direct trading. Japan Unisys to Build Blockchain Platform to Facilitate Trading of Electricity A partnership between the University of Tokyo, IT company Japan Unisys, electric utility Kansai…
Japan’s Tax Investigation Committee, an advisory body of the government, is looking to simplify its tax filling system as confusion has led to poor reporting of profits with digital currencies in the country. Japan Lawmakers Discuss Ways to Simplify Tax Returns of Cryptocurrency Gains At a meeting held on Wednesday, members of the taxation committee…
It goes without saying that the crypto industry is built on and by its users, but a majority of the world’s population have yet to interact with blockchain technology, and subsequently, cryptocurrencies. However, one of the largest social media giants on the globe intends to amend this problem, recently launching a series of protocols, platforms,…