Top 3 Japanese Bank to Roll Out Services on Marco Polo Blockchain

Top 3 Japanese Bank to Roll Out Services on Marco Polo Blockchain

Sumitomo Mitsui Banking Corporation (SMBC), Japan’s third-largest bank by total assets, will launch blockchain-based trade finance services in the second half of this year. SMBC’s vice chairman Yasuyuki Kawasaki announced the news at a recent fintech seminar in Tokyo, saying that the bank will roll out new services for import and export companies using the Marco Polo trade finance blockchain platform, CoinDesk Japan reported Thursday.
Following Expansions, Japanese Regulator Investigates Local Crypto Exchanges

Following Expansions, Japanese Regulator Investigates Local Crypto Exchanges

Japan’s Financial Services Agency (FSA) is looking into two major cryptocurrency exchange platforms as part of an investigation. According to a report published by Reuters Japan on April 23, 2019, the investigation by the financial watchdog is connected to the legal compliance and customer protection standards of trading platforms Fisco Digital Asset Group (FDAG) and Huobi Japan, the Japanese subsidiary of Huobi Global.
Crypto Exchanges Huobi and Fisco Investigated by Japan Watchdog: Report

Crypto Exchanges Huobi and Fisco Investigated by Japan Watchdog: Report

Cryptocurrency exchanges Huobi Japan and Fisco are said to have been investigated by the country’s financial watchdog last week. A Reuters report on Tuesday, citing “two sources familiar with the matter” said that the Financial Services Agency (FSA) visited the two exchanges to assess their customer protection and anti-money laundering (AML) provisions.
Hacked Crypto Exchange Zaif Resuming Full Services Under New Owner

Hacked Crypto Exchange Zaif Resuming Full Services Under New Owner

Japanese cryptocurrency exchange Zaif, which was hacked for about $60 million last year, is under new management. The exchange announced on its corporate website on Friday that, as of Monday, April 22, the firm will have signed over its business to publicly listed Japanese investment firm Fisco and full operations will be reinstated Tuesday. The plan for the takeover was first aired in October 2018, and sees the exchange pass from its previous owner, Tech Bureau, to an existing crypto exchange owned Fisco.
E-Commerce Giant Rakuten Opens Its New Crypto Exchange to Customers

E-Commerce Giant Rakuten Opens Its New Crypto Exchange to Customers

Japan’s equivalent to Amazon, e-commerce giant Rakuten, has started accepting account registrations for its new cryptocurrency exchange, Rakuten Wallet. For now, only customers who have an account at Rakuten Bank or who already have a Rakuten member ID can sign up in preparation for the launch of trading, the firm’s website indicates. It’s not yet clear when it will accept applications from the wider public. The firm said in an announcement it has also rolled out an automatic support service using AI (artificial intelligence) technology to answer customer inquiries.
Japan’s Biggest Bank Invests in Crypto Sleuthing Startup Chainalysis

Japan’s Biggest Bank Invests in Crypto Sleuthing Startup Chainalysis

Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, has backed an additional $6 million Series B round for cryptocurrency sleuthing startup Chainalysis. The investment came via the bank’s venture capital unit, MUFG Innovation Partners, Chainalysis said Tuesday. The round also saw participation from Tokyo-based investment firm Sozo Ventures. The additional funding means Chainalysis’ total for its Series B round now sits at $36 million. It raised $30 million back in February, in an initial round led by venture capital firm Accel Partners.
Japanese Bank Abandons Work With SBI Ripple’s ‘Money Tap’ App

Japanese Bank Abandons Work With SBI Ripple’s ‘Money Tap’ App

Resona, one of the three Japanese banks working with SBI Holdings and Ripple on their cash transfer app Money Tap, is pulling out of the project. The bank – Japan’s fifth largest – announced the decision on Thursday, saying that it would cancel the remittance service provided through the app on May 13. It did not provide any reason for the decision, however.
Coincheck Launches Bitcoin OTC Trading Desk 15 Months After Hack

Coincheck Launches Bitcoin OTC Trading Desk 15 Months After Hack

The Tokyo-based cryptocurrency exchange Coincheck has launched a Bitcoin over-the-counter (OTC) trading service for its users, per a post published on its official blog. The platform’s OTC trading desk will serve the needs of large-scale and institutional investors that want to trade large volumes of digital assets. Trading starts from 50 BTC (worth about $207,900 USD at press time) via Coincheck’s web interface.
Liquid.com Closes Funding Round Valuing Crypto Firm at ‘Over $1 Billion’

Liquid.com Closes Funding Round Valuing Crypto Firm at ‘Over $1 Billion’

Crypto trading platform Liquid.com has been backed by Bitmain and IDG Capital in a funding round that, it says, makes it the latest crypto unicorn. The firm, which is owned by Japanese cryptocurrency exchange Quoine, announced Wednesday that, with the closing of the Series C round, its “over $1 billion” valuation makes it “one of only two tech unicorns in Japan’s startup space.
Japanese Regulator Sees Boost In Cryptocurrency Queries

Japanese Regulator Sees Boost In Cryptocurrency Queries

Japanese consumers filed over three times the number of enquiries about cryptocurrency trading and initial coin offerings in 2017 as compared to the previous year, according to data released by Japan’s Consumer Affairs Agency (CAA). The numbers were disclosed at the second cryptocurrency exchange study group meeting hosted by Japan’s Financial Services Agency (FSA) on April 27, providing a glimpse into the country’s spiking interest in, and also concerns about, the cryptocurrency space.
16 Exchanges Pledge to Restore Crypto Market Confidence

16 Exchanges Pledge to Restore Crypto Market Confidence

A group of licensed cryptocurrency exchanges in Japan is looking to restore market confidence by adopting self-imposed rules. According to the Japanese news outlet Asahi Shimbun Tuesday, 16 exchanges that are currently registered with Japan’s Financial Services Agency (FSA) have formally launched a new self-regulatory organization dubbed the Japanese Cryptocurrency Exchange Association.
Japanese Crypto Users Lost $6 Million in Hacks Last Year, Say Police

Japanese Crypto Users Lost $6 Million in Hacks Last Year, Say Police

Around $6.2 million-worth of cryptocurrency was hacked from exchange accounts and wallet services in Japan last year, new data reveals. According to Japanese news source Nikkei, the country’s National Police Agency (NPA) released its first annual report of statistics tracking thefts from cryptocurrency accounts on Thursday. The data shows that at least 149 cases of hacking emerged last year, with 16 cryptocurrency exchanges affected, as well as three wallet operators, through which around 662 million Japanese yen was illegally remitted.

Inside Jobs Dominate as Crooks Steal $1.7 Billion in 2018, 360% Higher Than 2017

Last year was the worst yet in regards to crypto crime, a new report reveals.
Japanese Financial Services Authority Approves Self-Regulation for Crypto

Japanese Financial Services Authority Approves Self-Regulation for Crypto

Japan’s Financial Services Agency (FSA) has granted self-regulatory status to the country's cryptocurrency industry, giving the Japan Virtual Currency Exchange Association (JVCEA) authority to oversee the space, according to a Reuters report. The FSA approval, which was granted on Wednesday, October 24, 2018, gives the association the power to regulate the sector, safeguard customer assets, give operational guidelines, elaborate on anti-money laundering policies and provide necessary compliance guidelines for crypto exchanges in the country.

Japanese Exchange bitFlyer Approved to Operate in Illinois

Japan's largest Bitcoin and blockchain company, bitFlyer, has now received an official license to operate in the state of Illinois. After receiving a “BitLicense” to operate as a virtual currency exchange in New York in November 2017, the Tokyo-based company has now received approval to operate in 44 states and territories.

Following Massive Cryptocurrency Hack, Coincheck Pledges to Improve Operations, Refund Losses

Following one of the largest hacks in the history of cryptocurrency, Japanese cryptocurrency exchange Coincheck has announced that it will comply with an order from Japan’s Financial Services Agency to improve its business operations.
‘Mrs. Watanabe’ Driving Bitcoin Price Higher: Deutsche Bank

‘Mrs. Watanabe’ Driving Bitcoin Price Higher: Deutsche Bank

Mainstream financiers like BlackRock CEO Larry Fink may claim that bitcoin is an “index of money laundering,” but a new report from Deutsche Bank AG says that this year’s bitcoin price surge is not the product of criminal activity, it’s Mrs.
Ripple Price Leaps Another 32% as FOMO Sets In

Ripple Price Leaps Another 32% as FOMO Sets In

The ripple price climbed another 32 percent on Thursday as South Korean traders continued to demonstrate insatiable demand for XRP.
South Korea Pushes Ripple Price Up 71%, as Japanese Banks Conduct Payment Trials

South Korea Pushes Ripple Price Up 71%, as Japanese Banks Conduct Payment Trials

The South Korean cryptocurrency market has pushed the Ripple price up 71 percent over the past 24 hours, triggered by the Ripple blockchain-based payment trial conducted by Japanese and South Korean banks.

Tokyo Financial Exchange Plans for Bitcoin Futures Launch

Taking a cue from its U.

Japanese Bitcoin Exchange bitFlyer Now Licensed in the U.S.

Tokyo-based bitFlyer has become the fourth digital currency exchange to receive approval from the New York State Department of Financial Services (NYDFS) for a “BitLicense” to operate as a virtual currency exchange in New York.

Japan’s Cryptocurrency Exchanges Report 170 Money-Laundering Cases Since April

Following new cryptocurrency regulations in April, Japanese police have pointed to 170 cases of money laundering via cryptocurrencies reported by exchange operators in six months between April and October. Japan’s National Police Agency (NPA) has compiled its first report on cryptocurrency laundering cases following revised laws in April that mandated cryptocurrency exchange operators to flag and report transactions suspected of money laundering. The regulations kicked in alongside new legislation that now sees bitcoin recognized as a legal method of payment in Japan.
Bitcoin Price is Nearly $12,000 in South Korea and Japan

Bitcoin Price is Nearly $12,000 in South Korea and Japan

Bitcoin price has surpassed $12,000 in both South Korea and Japan, two major bitcoin markets that are accountable for approximately 74 percent of global bitcoin trades. South Korea: $12,653 In South Korea, bitcoin is being traded with a premium of over $1,270, a 12 percent premium rate.

World’s Largest Bitcoin Market Japan has “Loose” Regulations, Doesn’t Bode Well: Analyst

Koji Higashi, the co-founder of IndieSquare and Japanese cryptocurrency researcher, revealed Japan, the largest bitcoin market in the world in terms of daily trading volume, has friendly and loose regulations for bitcoin businesses and investors. But, while the Japanese government has legalized bitcoin as a currency and a legitimate payment method, other minor alternative cryptocurrencies (altcoins) are receiving the same treatment as bitcoin.
Bitcoin Price Hits New All-Time High at $8,668, Led by Japan and South Korea

Bitcoin Price Hits New All-Time High at $8,668, Led by Japan and South Korea

The bitcoin price has achieved a new all-time high for the second time this week at $8,668, with strong momentum led by Japan and South Korea. Over the past few days, the two largest bitcoin markets demonstrated trades with significantly high premiums.