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

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

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…

Read More

Japan’s Financial Regulator Investigates Crypto Exchanges Fisco and Huobi

Japan’s Financial Regulator Investigates Crypto Exchanges Fisco and Huobi

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…

Read More

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

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

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…

Read More

18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

An 18-year-old Japanese boy, whose name is kept by the police because he is a minor, was handed to prosecutors over ¥15 million worth of cryptocurrency (around $135K) theft last year by taking advantage of vulnerabilities presented in the cryptocurrency wallet website Monappy. Local news outlet The Japan Times also reported that the case is one of its kind in Japan; this is the first time that criminal charges have been filed against a hacker…

Read More

Sony and Fujitsu to Combat Fake Japanese Proficiency Documents with New Blockchain Platform

Sony and Fujitsu to Combat Fake Japanese Proficiency Documents with New Blockchain Platform

Thanks to the unique features of blockchain technology, Sony is ready to combat the spread of fake Japanese language proficiency documents in Japan. This measure is indeed called for due to the notorious use of fake documents by foreign students who look to study in Japan. For those who do not know, foreign students who intend to study in Japan are required to take a Japanese language proficiency course in their home country. To certify…

Read More

Mizuho Financial Group Rolls Out the ‘J-Coin Pay’ Stablecoin to Enter the Crypto Payment Race

Mizuho Financial Group Rolls Out the ‘J-Coin Pay’ Stablecoin to Enter the Crypto Payment Race

As the new kid in the block, there is always the question of what you have to make you stand out in a block crowded already. And that is the question on everyone’s lips as the Japan-based Mizuho Financial Group joins the many digital currency outlets in Japan. The company announced on Feb. 21 that it is set to release a Yen-pegged digital currency stablecoin that it has in the works for quite some time….

Read More

Japanese Megabanks Abandon Blockchain P2P Remittance Joint Venture; Each Bank Goes Solo on Crypto

Japanese Megabanks Abandon Blockchain P2P Remittance Joint Venture; Each Bank Goes Solo on Crypto

Back in 2017, Japan’s three largest banking groups – Mizuho, SMFG, and MUFG – have started a joint venture of a blockchain-based peer-to-peer remittance service linked to mobile phone numbers email addresses. At the time, the global digital payment market was valued at USD $2,898.54 billion and is expected to grow to USD $6,490.72 billion by 2023 along with a CAGR of 13.7%, during the FYs 2018-2023. Moreover, the emergence of digital currencies & payment channels has…

Read More

Japan Explores Crypto ETFs after Snubbing Bitcoin Futures

Japan Explores Crypto ETFs after Snubbing Bitcoin Futures

Cryptocurrencies have had a rough 2018. A yearlong sellout has been crushing for a large portion of the investors who were hoping for prices to recover after the January 2018 plunge. Moreover, cryptocurrencies’ continued association with stories of fraud and money laundering related crimes have not helped in improving their image. This caused authorities across the world to clamp down on the digital assets market and block, ban or bar most of them from trading…

Read More

Japanese IT Giant GMO Internet Quits Mining Equipment Business

Japanese IT Giant GMO Internet Quits Mining Equipment Business

The fallout from the downfall of cryptocurrency prices continues as a Japanese IT giant GMO Internet says it will stop making and selling crypto mining equipment after a year in harsh market losses. In December 2017, cryptocurrencies were at their peak; however, just a couple of weeks later, they had suffered the largest downfall in crypto market’s lifetime in January 2018. Cryptocurrencies and digital assets suffered this downtrend throughout 2018. A year of underwhelming and…

Read More

Research: Asia Might Be the Most Influential Region in the Global Cryptocurrency Ecosystem

Research: Asia Might Be the Most Influential Region in the Global Cryptocurrency Ecosystem

A recent research by the Mosaic research team suggests that the Asian region does not get enough recognition for the vital role it plays in the global cryptocurrency ecosystem. Due to the erroneous view from major cryptocurrency headlines, nine of ten people will argue that European countries and the United States are in control of the wheels in the crypto verse, especially in terms of influencing cryptocurrency prices. This can’t be further from the truth…

Read More
1 2