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Tag Archives: japan

Japan’s Financial Authorities Discuss A National Cryptocurrency

Financial and monetary authorities in Japan are accelerating the process of creating their own digital currency. The Ministry of Finance, the Bank of Japan, and the Financial Services Agency have held an undisclosed number of meetings to establish a clear vision before eventually launching a central bank digital currency (CBDC).Japan Prepares For A Bank-Backed CryptocurrencyA recent local report informs about the meetings held by the BOJ, the FSA, and the MOF. Per the document, the country’s...

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Japan To Release Cryptocurrency Proposal Friday To Counter China’s Digital Yuan

Japan is seemingly following the footsteps of China to ensure that they are not left out in the race for government-backed cryptocurrencies. The country’s lawmakers will reportedly release drafted proposals tomorrow (Friday) for the creation of their own central bank digital currency (CBDC). Countering China’s Digital YaunJapan initially became interested in issuing a digital currency after China announced plans to leverage the blockchain technology to launch a digital yuan last year. The...

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Japan’s Economy Minister Warns: Concerns Of The Coronavirus Impacting Global Economy Grow

The sudden breakout of the coronavirus in China and its continuous spread might already be taking its toll on the local and even global economy. In a recent statement, the Japanese Economy Minister said that he believes corporate profits and factory production are taking serious hits. And while major indexes are charting losses across the board, Bitcoin and gold continue their increase.Coronavirus Impacts The EconomyThe Japanese Economy Minister Yasutoshi Nishimura recently stated that the...

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Japanese Bitcoin Exchange Goes Bust After a $700,000 Theft Coverup

Before Bitcoin firm CoinExchange closed its doors last year in October, an undisclosed theft had occurred a year prior. The crypto firm said the closure was purely a business decision. CoinExchange expressly ruled out a security breach as causing the closure. Was it an oversight or intentional cover-up? Two hackers who stole Bitcoin worth approximately $700,000 from a cryptocurrency exchange have been arrested in Japan. According to Japan Times, the suspects hacked...

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Japan’s Biggest Bank Pivots ‘MUFG Coin’ After Digital Currency Flop

MUFG has been touting a cryptocurrency for over a year now.The digital currency will be used in a mobile payment service.The service could be rolled out by the end of 2020’s first half.A much-publicized plan by Japan’s biggest bank Mitsubishi UFJ Financial Group (MUFG) to launch a cryptocurrency has been scaled back. The financial giant will instead use the digital currency in a mobile payments business, according to Nikkei Asia Review. The mobile payment service employing the MUFG Coin as...

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Tokyo-Based Softbank To Offer Cryptocurrency Debit Cards To Its Clients

Softbank, one of the popular banks in Japan, has announced the introduction of a new type of debit card for its clients. Reportedly, the bank will start providing debit cards equipped with Internet of Things (IoT) chips, and it would be usable as a cryptocurrency wallet as well.Softbank Launches Cryptocurrency Debit CardThe popular Japanese bank, Softbank, announced today a new debit card that seeks to implement cryptocurrencies into traditional market products. As with any regular debit...

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Japan: Coworking Spaces können jetzt in Kryptowährung bezahlt werden

Cardano (ADA) wird ab sofort als Zahlungsmittel bei tausenden Coworking-Spaces weltweit akzeptiert. Der Coworking-Trend hat die Kryptowährungen für sich entdeckt: „ToStart“ unterstützt ab sofort Zahlungen in der Cardanos Währung ADA. „ToStart“ ist hierbei der erste etablierte Coworking Space in Sasebo; in Japan. Dort kommen Webdesigner, Content Creator, Unternehmer und Programmierer zusammen, die eine Arbeitsumgebung schaffen wollen, die...

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Bitcoin-Friendly Japan Clarifies Stance on Crypto Donations – It’s Legal

In a clear example of tech evolving faster than the law can adapt, a Japanese minster has confirmed that crypto donations are now legal due to a classification loophole. According to Reuters, on Tuesday, Sanae Takaichi, the internal affairs and communications minister of Japan, noted the newfound ‘legality’ of crypto donations. She specifically highlighted their use within elections, remarking that cryptocurrencies were not subject to the stringent political fund’s control law; a statute...

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Bitcoin-Rabid Japan Gleefully Cheers Facebook’s ‘Killer App’ Libra

Facebook’s plans to launch a cryptocurrency are an indication that blockchain technology has come of age and is ready for prime time, especially in Japan. According to the chairperson of the Japan Security Token Association, Go Masuda, Libra is blockchain’s second “killer app,” after Bitcoin: “The industry lacked a good use case of blockchain technology. There have been no killer apps since bitcoin … the industry is now entering a new phase of commercial adoption.” With Japan being one of...

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Crypto Fever Plummets 14% in Japan Amid Bitcoin Exchange Sweeps

Interest in cryptocurrencies like bitcoin tumbled 13.9% in Japan in the latest quarter, according to Japan's financial regulator, the FSA. | Source: ShutterstockInterest in cryptocurrencies like bitcoin tumbled 13.9% in Japan, according to the country's financial regulator.In data posted Sept. 3, the Financial Services Agency (FSA) says the volume of crypto-related inquiries fell in the latest quarter. The office handled 494 inquiries about crypto assets in the second quarter ended June...

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