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Tag Archives: japan

Japan to Implement Stricter Rules on Stablecoins: Report

The Japanese government intends to put stablecoins under strict regulation as some authorities consider them a threat to the country’s financial stability. At the same time, the Bank of Japan aims to issue a digital yen that it sees as a safer alternative to private virtual currencies. Japan’s Next Crypto Move According to Reuters, three Japanese officials revealed that the country is looking to increase its efforts to regulate digital assets. Per the report, some local...

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Bank of Japan Begins Experiments on Issuing a Central Bank Digital Currency

The Bank of Japan has officially kicked off experiments on a proof of concept for its central bank digital currency. The first testing phase is already live and should be completed by March 2022. BOJ Takes a Swing at CBDC Development Japan’s Central Bank has put its mind into issuing its own digital currency. The trial will consist of two phases, according to a recent Reuters coverage. The initial steps should continue until March 2022. They will concentrate on testing the...

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SEC Requests Personal Financial Information on Ripple Executives, They Object

More developments on the Ripple vs. the SEC legal front as the Commission has requested personal financial information of the company’s CEO, Brad Garlinghouse, and co-founder Christian Larsen.Simultaneously, the Japanese financial giant SBI Group has doubled-down on its support for Ripple by offering to pay its shareholders dividends in XRP.The SEC Seeks Personal Info on Ripple ExecsThe impending case between the US Securities and Exchange Commission and the blockchain payment processor...

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Japanese Giant SBI Holdings Plans to Form Joint Cryptocurrency Venture

Japanese financial conglomerate SBI Holdings revealed that it was planning to establish a joint cryptocurrency venture that would serve as one of the company’s key earners.SBI Expanding Crypto ServicesAccording to Reuters on Monday (Feb. 15, 2021), SBI’s founder and CEO, Yoshitaka Kitao, the company was discussing with international financial firms to set up the new crypto business. The latest development was part of SBI’s plans to expand its crypto business.The company has been active in the...

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Bitcoin is More Attractive Than Gold and ETFs to Americans: Survey

Months after Russian survey participants placed bitcoin above gold in terms of attractive investment assets, so have done investors from the United States. BitFlyer’s recent research on the people’s perception of the crypto industry also showed that Japan-based investors have a significantly more negative opinion when compared to US citizens.Americans Prefer BTC Instead Of Gold and ETFsFounded in 2014, bitFlyer is among the largest Japan-based cryptocurrency exchanges. The privately-owned...

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Despite The SEC Lawsuit: Japanese Giant SBI Adds XRP to Its Crypto Lending Services

Japanese giant SBI Group will include a new addition to its crypto lending service via its subsidiary VC Trade. Apart from the other options, Bitcoin (BTC) and Ethereum (ETH), the organization’s customers will be able to deposit XRP to earn interest as well.Adding XRP to the List of Bitcoin and Ethereum Lending Japanese giant SBI Group has announced it will include XRP in its list of lending services. The company, which started the lending endeavor in November 2020, will provide clients with...

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Enjin Coin (ENJ) Price Explodes by 90% as Japan’s JVCEA Approves it for Coincheck Listing

Less than two years after entering the Japanese market, Enjin Coin has received approval from the country’s JVCEA to be listed on the cryptocurrency exchange Coincheck. Thus, the asset has become the first gaming token authorized for usage in the Asian nation.JVCEA Approves Enjin Coin’s Listing On CoincheckLaunched following several high-profile exchange hacks in 2018, Japan’s Virtual Currency Exchange Association (JVCEA) received approval from the country’s financial regulator, the FSA, to...

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Report: Mt Gox Creditors Could Claim 90% Of The Owned Bitcoins After A CoinLab Deal

Nearly $5 billion in bitcoin could make their way back to Mt. Gox users following a deal between creditors and CoinLab. Nevertheless, the agreement is still reportedly subject to creditor acceptance.Bloomberg reporter Matt Leising offered a brief explanation of the story earlier today, noting that CoinLab has reached a deal with Mt. Gox creditors for 90% of the bitcoins they are owned.Should the deal indeed proceed, the creditors would receive over 135,000 bitcoins out of 150,000. With...

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Mt. Gox Rehabilitation Plan for 150,000 Bitcoins: Draft Finally Submitted

Mt. Gox users fallen victim to an infamous hack in 2014 are closer to receive reimbursement as the debunked exchange’s trustee finally filed a draft rehabilitation plan. The Tokyo District Court and an examiner will now review the proposal and determine the following steps.CryptoPotato reported in October that the Tokyo District Court had issued an order to postpone the submission deadline for the rehabilitation plan to December 15th. This was the second delay in 2020.Today’s announcement...

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Japanese Giant SBI Group Launched A Crypto Lending Service For Bitcoin

Founded in 1999, SBI Group is a financial services company based in Tokyo, Japan. Apart from offering numerous traditional financial services, the SoftBank Group subsidiary announced today a new cryptocurrency-related endeavor.SBI Group has introduced a digital asset lending service through its cryptocurrency arm – SBI VC Trade.The statement informed that the platform, dubbed VC Trade Lending, will initially support only Bitcoin. However, plans include adding support for Ether (ETH), Ripple...

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