Japanese police make first arrests for crypto mining hijacks
Japan’s National Police Agency makes its presence felt as the popularity of cryptocurrency in Japan continues to grow
Japan shines as Coinbase and first bank-backed exchanges to open
One of the most advancing and embracing countries of cryptocurrencies, Japan displays the best and worst in the industry and may offer a glimpse into future trends.
Japan pressures exchanges to drop Monero, Zcash and Dash
Japanese regulators have reportedly pressured local exchanges to delist privacy coins, calling into question the authority of trading platforms to carry coins that cannot be tracked by law enforcement agencies. Japanese regulators have reportedly pressured local exchanges to delist privacy coins, calling into question the authority of trading platforms to carry coins that cannot be tracked by law enforcement agencies.
Japan’s Financial Services Agency approves first bitcoin exchanges
The Japanese Financial Services Agency (FSA) has released a list of the first 11 companies permitted to operate exchanges that trade fiat currencies against digital currencies such as bitcoin. Since the Payment Services Act (which legalized digital currencies in Japan) went into effect in April this year, all companies trading fiat for cryptocurrencies were required to register as a ‘virtual currency exchange business’. The law was enacted with the provision of a 6-month grace period to give companies the opportunity to complete registration. Those operating digital currency exchanges before the introduction of the registration system were labeled ‘deemed operators’ and fell into a few different statuses. According to the Japanese financial publication Newspicks, 17 companies remain under review,12 have chosen to shut down at their own discretion and two have not applied for registration.
Karpeles pleads innocent to embezzlement in MtGox case
Over three years after the failure and bankruptcy of the infamous bitcoin exchange MtGox, the first trial of its CEO, Mark Karpeles, took place at the Tokyo District Court on Tuesday, July 11.
Local government using bitcoin to promote tourism in Japan
With the help of Bitcoin exchange and payment processor Coincheck, the festival and City of Hirosaki are officially accepting bitcoin donations as part of their Cherry Blossom Festival this week. "This will be the first attempt for both a Bitcoin company and a local government in Japan," Coincheck states.
Bitcoin regulation overhaul in Japan
Japan’s Government has long been working on a bill to amend its Banking Act, accounting for changes to the economy stemming from the growth of telecommunications technologies. Last week, the Japanese Financial Services Agency (FSA) announced that this bill will come into full force on Saturday, April 1. The amendments include an ordinance concerning digital currencies as well as digital currency exchanges.
Japanese internet giant, GMO, entering bitcoin exchange and wallet markets
The largest internet conglomerate in Japan, the GMO Internet Group, recently announced that they will be diving into the cryptocurrency industry, adding another own wallet and exchange to the already-competitive Japanese Bitcoin landscape. A new company founded specifically for this venture, GMO Wallet Co., Ltd., was founded in October.
Insurance policy now available for bitcoin exchanges
Mitsui Sumitomo Insurance is offering bitcoin exchanges around the world a new insurance policy. Insurance companies have historically insured bitcoin businesses with one-off policies made specifically for them, and many exchanges were unable to find any insurance.
Bitwala planning expansion into Mexico and Japan, offering €5 to testers
The Netherlands-based Bitcoin payment service startup recently announced that it will enter the Mexican Peso and popular Japanese Yen markets. “In order to be able to provide you with the best Bitcoin and Altcoin to Mexican Peso service, we need your help!,” states the company.
Japanese exchanges launch initiatives to drive bitcoin adoption
Two leading Japanese bitcoin exchanges recently unveiled initiatives to accelerate bitcoin adoption in Japan. “Since Mt. Gox incident image of bitcoin in Japan is terrible,” the Business Development Lead of Coincheck, Kagayaki Kawabata, told BNC. The now defunct Tokyo-based Mt. Gox was handling approximately 70 percent of global bitcoin transactions before it’s collapse, subsequent bankruptcy, and the arrest of CEO Mark Karpeles.
Leading Japanese insurer testing a blockchain system for insurance derivatives
Sompo Japan Nipponkoa Holdings Inc. recently announced a trial of blockchain technology for derivative products, in collaboration with Soramitsu Co Ltd. The Tokyo-based company is one of largest insurers in Japan.
Japan Exchange Group research explores Bitcoin in capital market infrastructure
The Japan Exchange Group (JPX) recently released a working paper to further technological advancements and the ongoing global efforts for applying blockchain to capital market infrastructure.
Public blockchains gaining acceptance at Bank of Japan’s Payment and Settlement Forum
A summary of the Bank of Japan Forum on Payment and Settlement systems, [released](https://www.boj.or.jp/en/announcements/release_2016/index.htm/) on Friday, revealed that public blockchains were discussed in a positive light. Banks and financial institutions typically focus on projects using private blockchains, where a greater amount of privacy and control can be held by the issuer. Their public counterparts, such as Bitcoin’s blockchain, are usually sidelined.
Japan’s Zaif bitcoin exchange launches a dollar-cost averaging investment service
Japanese cryptocurrency and blockchain technology FinTech Lab, [Tech Bureau Corporation](http://techbureau.jp/), recently [launched](http://techbureau.jp/247.html) a new bitcoin investment service, the Zaif Coin Reserve. Customers simply authorize a fixed monthly debit, and it’s automatically invested in bitcoin. Brave New Coin spoke with Tech Bureau CEO, Takao Asayama, who explained more about the new service. “This is a fusion of Japan's domestic payment method and crypto products, into a very interesting crypto investment program.”
Coincheck collects bitcoin donations for Kumamoto earthquake victims
On April 15, at 16:25 UTC a magnitude 7.0 (M7.0) earthquake struck southwest Japan, “as the result of strike-slip faulting at shallow depth,” according to the United States Geological Survey (USGS). The Japan Meteorological Agency recorded the quake as magnitude 7.1, which it later revised to 7.3.
