Japan's FSA Denies Rumours About Upcoming Bitcoin ETF Approval

The reports led to an increase in anticipation toward the approval of the VanEck Bitcoin ETF filing that is set to be decided by the U.S. Securities and Exchange Commission (SEC) by the end of February, as the emergence of strictly regulated investment vehicles in a major market like Japan would decrease the risk of…

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Coincheck Wins FSA Approval

Nearly a year after being hacked, the exchange has attained FSA licensure. Almost a month after rumors emerged that Coincheck had at last achieved regulatory approval by Japan’s Financial Services Agency (FSA), it has now been confirmed that the exchange is registered with the Kanto Financial Bureau, in accordance with Japan’s Payment Service Act, effective…

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Japanese Banks Launching Digital Currencies Could Inspire the Traditional Cash Society

Japan is known as a land of contrasts. A country where serenity and tranquillity can be found in the middle of the hustle and bustle of large global cities, where proud traditionalism stands side-by-side with the developers and innovators of breakthrough technologies, where kimonos are often found next to the latest fashion trends. This contradictory…

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Japan’s Financial Services Agency Renames Cryptocurrencies To Prevent Confusion With Legal Tender

Japan’s Financial Services Agency (FSA) has decided to place the names of bitcoin and other cryptocurrencies into a category called “crypto-assets.” On December 14, an FSA advisory panel compiled a report, pointing out that the term “virtual currency” could cause misunderstanding, and requested a change of the term. The FSA will reportedly revise relevant laws…

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The Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Defines Cryptocurrency as Property

The Financial Services Agency of Japan has resolved to refer to cryptocurrencies as “crypto assets” in order to prevent confusion with legal tender. Also in The Daily, the Justice Ministry in Moscow has confirmed that it classifies digital coins as “other property.” Finally, according to a recent report, stablecoins have seen significant growth over the…

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Japan’s Monex Group Launching Crypto Exchange in the US

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. U.S. Expansion Tokyo Stock Exchange-listed Monex Group (8698.T) held a business strategy briefing session…

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Cryptocurrency Still a Minute Portion of Money Laundering Crimes, Says Police in Japan

Law enforcement in Japan says cryptocurrency money laundering constitutes only a minor portion of the total cases of money laundering in the country. This assertion comes even as police authorities say instances of virtual currency-related money laundering are on the rise. Two Percent According to the Japan Times, the country’s National Police Agency (NPA) announced…

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Coincheck Reinstates XRP and FCT Trading as Normal Services Resume

Coincheck recently reinstated two cryptocurrencies – XRP and FCT – to its platform. With this announcement, the Japanese cryptocurrency exchange is now back to its full complement of virtual currency listings. Complete Resumption of Deposit and Purchasing In a press release published by Coincheck on Monday (November 26, 2018), the cryptocurrency exchange announced the resumption…

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Japanese Regulators Urgently Respond to Zaif's Hack

Following the hack of Zaif, one of Japan’s regulated crypto exchanges, the country’s financial regulator immediately responded, launching an emergency inspection of the exchange and a survey of all other crypto exchanges. Finance Minister Taro Aso has also commented on the situation. In addition, the recently established self-regulatory body has asked all exchanges to inspect…

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Japanese Regulated Exchange Zaif Hacked – Nearly 6000 BTC Stolen

Japanese government-approved cryptocurrency exchange Zaif has confirmed that it has been hacked. After a preliminary investigation, the exchange says at least 5,966 BTC have been stolen, with an estimated total damage of $60 million. Some of the stolen coins belong to the exchange but the majority belong to customers. Zaif Hacked Japanese crypto exchange Zaif…

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Interest Towards Crypto in Japan is Rising So Rapidly That FSA Expands

According to Reuters Japan, the Financial Services Agency (FSA) of Japan, the country’s main financial watchdog, will expand its crypto team to respond to the rising growth of the digital asset sector. By the end of 2018, 12 government officials will be added to the crypto team of the FSA, which already has 30 officials…

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Japan’s FSA Enhances Risk Screening Process for Crypto Exchanges

New crypto exchanges will now face a new regulatory rule after reports emerged that Japan’s Financial Services Agency (FSA) has tightened up the existing screening process. According to JapanTimes, the new measures were taken in order to ensure that the crypto exchanges are properly conducting risk management. Additionally, the upgraded regulations will now be a…

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Japan Unveils Results of On-Site Inspections of 23 Crypto Exchanges

The Japanese financial regulator has finished the on-site inspections of 23 cryptocurrency exchanges. The agency found many problems and has released a report outlining them. The regulator will use the findings to tighten its review procedures of new crypto exchange applicants, including over 100 companies that have been waiting to be reviewed. Results of On-Site…

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

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. Registering with FSA The Japan Virtual Currency Exchange Association (Jvcea) announced Friday that it has…

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Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation

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. It was revealed on Thursday that, on January 30, Noda’s secretary and aide allegedly…

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FSA Orders Six Japanese Crypto Exchanges to Improve Anti-Money Laundering Systems – Bitsonline

A total of six licensed Japanese crypto exchanges, including bitFlyer, have had sloppy anti-money laundering (AML) systems brought into question by Japanese financial regulator, the Financial Services Agency (FSA). The FSA issued a “business improvement order” demanding those exchanges address their AML failings to protect their consumers. The Japanese government appears to be buckling down…

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With No One Price Law for Bitcoin, Japan’s FSA Debates Restrictions on Leverage

The different prices of bitcoin and other cryptocurrencies between countries and exchanges have led investors to seek arbitrage opportunities, a trend noticed by financial regulators around the world. Discussions are underway at the Japanese Financial Services Agency on restricting leverage. Also read: This Village Decided to Launch Japan’s First Municipal ICO Value of Bitcoin up 10% After…

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Japan's GMO Has Mined Over 900 Bitcoins – Hashrate Doubled Last Month

The mining operation of Japan’s internet giant GMO has resulted in over 900 bitcoins and 537 bitcoin cash so far, as the company roughly doubled its hashrate last month. Meanwhile, its crypto exchange reported a first-quarter loss after the country’s financial regulator ordered it to improve. Over 900 BTC Mined So Far Japanese conglomerate GMO Internet…

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Japan FSA strengthens cryptocurrency exchange regulation to prevent another heist

The Financial Service Agency of Japan [FSA] strengthens cryptocurrency exchange regulation in the country. FSA has announced stricter regulations for cryptocurrency exchanges to prevent another heist like Coincheck’s. FSA is going to be using a tighter cryptocurrency exchange laws from this summer. The FSA of Japan has said that from this summer onwards they would…

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Two Crypto Exchanges Suspended by Japan's Financial Regulator

The Financial Services Authority of Japan has imposed penalties on three cryptocurrency exchanges following inspections of trading platforms in the country. Two of them have been ordered to suspend operations. Officials are not satisfied with the measures implemented to prevent money laundering and systemic risks.    Also read: CEO of Korean Exchange Coinnest among Four…

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