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Japan’s Financial Regulator Eyes Strict Limits on Crypto Margin Leverage

Posted on January 14, 2020January 14, 2020 by Rehan Yousaf

Japan’s Financial Services Agency is planning to impose strict restrictions on permitted leverage for margin trading in cryptocurrency exchanges. The planned changes were reported by the Japanese news outlet Japan Times which references sources at the agency. The financial regulator is pushing for these restrictions in order to reduce the risk for margin traders on cryptocurrency trading platforms. According to the report, only twice as much as the deposited amount will be allowed as leverage….

Numerous Japanese Banks Join JPMorgan’s Blockchain-Powered Network

Posted on December 11, 2019December 11, 2019 by Rehan Yousaf

JPMorgan Chase, one of the largest global banking corporations based in the United States, has reached worldwide influence with its blockchain-powered Interbank Information Network, a service that allows banks to share information fast and easily. The Director of Financial Sales Corporation Daizaburo Arai, based in the Tokyo branch of the company, said that the service is functional in Europe, the US and Asia across multitudinous financial institutions as Japanese banks have started showing a growing…

Naver’s Subsidiary Line to Offer Crypto Trading Services in Japan

Posted on September 10, 2019September 10, 2019 by Julie Williams

The renowned South Korean internet company, Naver Corporation, confirmed on Friday that it is ready to spread its wings across the global crypto community. Using its Japanese subsidiary, Line, Naver is targeting the millions of users on the messaging app platform as it makes a move into the highly competitive crypto sphere. Line currently boasts up to 80 million users in its messaging app. Its payment service Line Pay has also experienced a bliss in…

Rakuten Wallet to Facilitate Spot Trading Services for Cryptocurrencies

Posted on August 22, 2019August 22, 2019 by Ravi Rd

Rakuten Wallet – a subsidiary of the Japanese conglomerate Rakuten Group – announced in an official press release that the company is moving a step further to the crypto market with a new spot trading services for cryptocurrency assets. The service will allow users to trade cryptocurrencies through a dedicated smartphone app developed by the firm. The application will be first launched for Android devices and the iOS version of the application will be released…

Ripple Broadens Blockchain Research to Kyoto University and the University of Tokyo

Posted on August 3, 2019November 25, 2019 by Ansab Gillani

Ripple aims to further academic research in blockchain technology by partnering with Tokyo and Kyoto Universities. The crypto education program is now collaborating 33 institutes worldwide to develop the increasingly popular blockchain technology, cryptocurrencies and decentralized digital transactions. The University Blockchain Research Initiative (UBRI) has already established over 30 university collaborations initiating in 2018, including Princeton University, Carnegie Mellon, Pennsylvania University, Massachusetts Institute of Technology, and Singapore National University. Ripple, the crypto firm behind the…

Japan Sets to Build a SWIFT-Like Network for Global Cryptocurrency Transactions

Posted on July 18, 2019July 18, 2019 by Julie Williams

Prior to the upcoming G7 summit in France, an insider revealed that the Japan government is set to implement a SWIFT-like network for crypto transactions. In the traditional financial world, the SWIFT network is responsible for executing transactions across different borders. While this well-governed network has functioned well for as long as it has been in place, it still has some minor drawbacks that the crypto world aims to mitigate and even eliminate. Also, due…

Japanese Crypto Exchange Bitpoint Loses $32 Million in a Hack and Ceases Operations

Posted on July 14, 2019December 11, 2019 by Ravi Rd

When it comes to cyber-attacks on cryptocurrency service providers such as crypto exchanges, trading platforms, wallet service providers, etc. Japan has been quite prolific. Recently, another Japanese crypto exchange, Bitpoint, stopped its trading services due to a major cryptocurrency hack resulting in a loss of about 3.5 billion Japanese Yen ($32 million) worth of cryptocurrency, which includes popular cryptocurrencies such as Bitcoin(BTC)trade, Bitcoin Cash (BCH), Ripple (XRP)trade, etc. On July 11th, Bloomberg reported that the…

Japan’s Big-Time Investor Masayoshi Son Gets Gravely Burned by Bitcoin

Posted on May 2, 2019May 2, 2019 by Julie Williams

There has been a lot of questions and panic in Japan following the news of Masayoshi Son losing about $130 million on Bitcoin. Son is a renowned investor who is likened by many to the famous Warren Buffett of the United States. As with many other investors, Son accumulated a huge sum of Bitcoin in 2017 when the most popular crypto coin was at its all-time high. Sadly, news of his loss surfaced recently, leaving…

Japan’s Financial Regulator Investigates Crypto Exchanges Fisco and Huobi

Posted on April 24, 2019April 24, 2019 by Jodie Lauren Smith

Japan’s financial regulator, The Financial Services Agency (FSA), has raided two cryptocurrency exchanges last week due to concerns over internal business conduct, sources close to the matter told Reuters. The FSA inspected Fisco Cryptocurrency Exchange Inc and Huobi Japan Inc. Both companies recently underwent significant changes to their management structure, encouraging the FSA to investigate concerns over customer protection and anti-money laundering. Huobi is a Singapore-based cryptocurrency exchange that has offices in South Korea, Hong…

Japan’s Authorities to Require Crypto Exchanges to Strengthen Custody of “Cold Wallets”

Posted on April 19, 2019April 19, 2019 by Rehan Yousaf

In a series of steps to ensure safety and validity of transactions being processed and money being moved by cryptocurrency exchanges, Japan’s Financial Services Agency (FSA) will require all cryptocurrency exchanges to strengthen their internal oversight over their “cold wallets,” which are used to store big chunks of their digital money. The news was reported on by Rueters in an article posted on April 16. The article claims that the move by the Japanese authorities…

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