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Joseph Lubin said that BTC and ETH are the only two successful coins in Cointelegraph’s weekly digest of news from Japan. Japan, the second-largest source of traffic for global crypto exchanges to date, witnessed a number of industry announcements this week as the country hosted the major blockchain event Devcon 5 from Oct. 8 to Oct. 11. Organized on an annual basis by the Ethereum Foundation, the recent Devcon conference featured leading figures in the blockchain and cryptocurrency industries, including Ethereum co-founders Vitalik Buterin and Joseph Lubin. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Japan. MakerDAO to launch MCD in NovemberOn Oct. 9, Rune Christensen, the CEO of the Maker Foundation, announced plans to launch its Multi-Collateral Dai (MCD) on Nov. 18. Speaking at Devcon 5 in Osaka, Christensen noted that MCD will unlock the Dai Savings Rate (DSR), a tool that allows Dai (DAI) stablecoin holders to earn inter..
The Japan Security Token Offering Association comes at a time when the industry is looking for clarity, self-regulating is the next step. Security token offerings, or STOs, have more or less taken the mantle from their semi-defunct counterpart, the initial coin offering (ICO). Still, the extreme rise and subsequent fall of the ICO has left quite an impression on the cryptocurrency industry. At its peak prevalence in 2017, this novel fundraising prototype accumulated a total of $6.2 billion — but it wasn’t set to last. Come December of the same year, ICOs had become a shadow of their former selves, plummeting in demand. So far, a mere $366 million has been raised via ICOs in 2019, a retrace of 94% from their high some two years prior. This is perhaps a direct effect of the laissez-faire nature of ICOs. In 2018, the United States Securities and Exchange Commission (SEC) seemed to have decided that enough was enough, filing multiple injunctions against what it deemed to be “unregistered..
Japanese politicians are barred from accepting cash and security donations but can receive crypto assets, says internal affairs minister Sanae Takaichi. Sanae Takaichi, the internal affairs and communications minister of Japan, has stated that cryptocurrency donations to individual politicians are not illegal in the country — unlike the ones made in cash or securities. According to Reuters’ report published on Oct. 8, Takaichi made that statement at a press conference which took place the same day. During the event, she reportedly said that cryptocurrency donations are not subject to disclosure under the country's Political Funds Control Act. “No” to cash and securities, “yes” to cryptoPer the report, Takaichi explained that Japan’s laws prohibit donations to politicians in fiat currencies and securities, and noted that crypto assets “do not fall under any of the above, and don't limit donations.” When confronted about the possible negative implications of this regulation, T..
Australian energy tech firm Power Ledger to run blockchain-enabled energy trading trial in Japan’s Kanto region by December 2019. Australian tech firm Power Ledger will run another blockchain-enabled energy trading trial in Japan’s Kanto region by December 2019. In order to launch its second trial in Japan, Power Ledger teamed up with Japanese solar provider Sharing Energy and electricity retailer eRex, the firm stated in a press release shared with Cointelegraph on Oct. 3. Main region of Japan’s economyThe new Power Ledger’s trial will track surplus solar energy levels and electricity trading, integrating blockchain-enabled P2P platform with household smart meter systems in the Kanto region. With Japan’s capital Tokyo located in Kanto, the region is considered to be the main engine of Japan’s economy and is the second largest sub-national economy in the world after the United States’ California. Access to cheaper energy systemsSpecifically, the trial intends to demonstrate the benef..
Japan STO Association launches on Oct. 1, includes Nomura Securities, Rakuten Securities, SBI Securities, Monex and others. Six major Japanese brokerage firms such as SBI Securities and Rakuten Securities officially established Japan Security Token Offering (STO) Association. The four other members of the new association include Nomura Securities, Daiwa Securities, Kabu.com Securities and Japan’s financial giant Monex, who officially announced the news on Oct. 1. Headquartered in Tokyo, Japan STO Association launches in order to support the development of STO fundraising by consolidating expertise in the industry, ensuring compliance with laws and protecting investors. Development of self-regulationsChaired by Yoshitaka Kitao, CEO and representative director of SBI Holdings and an exec at Ripple Labs, the general incorporated association will be mainly collaborating on the development of self-regulations for STOs, according to the press release. In the announcement Monex stressed the ..
From Cointelegraph Japan: This week’s selected cryptocurrency and blockchain news. In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Japan, Bitflyer adds the Ether (ETH)/yen pair to its trading platform, the official website Ethereum.org adds a Japanese language version, while Monex CEO Oki Matsumoto says that Facebook opened Pandora’s box with its stablecoin project, Libra. Here is the past week of cryptocurrency and blockchain news in review, as originally reported by Cointelegraph Japan. BitFlyer adds Ether/Japanese yen pair to its trading platformOn Sept. 25, Cointelegraph Japan reported that the Tokyo-based cryptocurrency exchange BitFlyer was adding the Ether/yen pair (ETH/JPY) to “BitFlyer Lightning”, a virtual currency trading tool for professionals. That same day, Cointelegraph reported that BitFlyer was adding five new altcoins to its platforms in Europe and the United States. In Europe, the exchange will add Bitcoin Cash (BCH), Ethereum ..
A partnership between bitFlyer Blockchain and Sumitomo Corporation aims to transfer rentals to smartphones. Japanese commercial giant Sumitomo Corporation has partnered with a sister company of local cryptocurrency exchange bitFlyer to launch a blockchain real estate business. As Cointelegraph Japan reported on July 23, bitFlyer Blockchain will develop an umbrella platform for renting real estate, driven by smart contracts on its in-house Miyabi blockchain. Speaking to local tech news outlet CNET Japan, Yuzo Kano, managing director of bitFlyer Blockchain, added that the aim of the project was to enable rental parties to complete the entire process from a smartphone. “It can greatly simplify the real estate rental contracts process, and the intermediary company can also reduce its significant administrative costs,” he told the publication. According to CNET Japan, a prototype should be available towards the end of this year, with a full rollout in 2020. The announcement comes as bloc..
The Japanese government is attempting to spearhead the creation of a new, global cryptocurrency payments network that would be similar to SWIFT. The Japanese government is attempting to spearhead the creation of a new, global cryptocurrency payments network that would be similar to SWIFT. Replace SWIFT with a global crypto payments network?Citing an anonymous source, a Reuters report published on July 18 claimed that the country’s push for the network is motivated by a resolve to combat money laundering more effectively. While plans are being kept firmly under wraps, the source alleged that Tokyo hopes to have the network established within the next few years. Plans for the network were reportedly initially proposed by Japan’s Ministry of Finance and its national regulator, the Financial Services Agency (FSA). The prospective network has been approved for oversight by the Financial Action Task Force — a G7-initiated intergovernmental organization that promotes legal, regulatory and o..
Japanese authorities are investigating the impact of Facebook’s Libra stablecoin. Japanese authorities are investigating the impact of Facebook’s Libra stablecoin, The New York Times reported on July 12. Per the report, Japanese authorities have set up a working group tasked with investigating the impact of Facebook’s stablecoin on monetary policy and financial stability. The working group will reportedly consist of the Bank of Japan, the Ministry of Finance and the Financial Services Agency and already started meeting this week. The outlet claims that the objective of the newly formed group is to coordinate policies that would address the consequences of Libra’s implementation on regulation, tax, monetary policy, and payments settlement. Unspecified officials reportedly noted that they hope that more tax and financial regulators will join the group, given the broad impact of Facebook’s project. Japan has taken the initiative on ahead of the upcoming meeting of the G7 finance minister..
Taxing people to store money will drive them to cash, which authorities can’t afford to eliminate, says Bank of Japan deputy. Japan’s second most senior banking figure has said central banks cannot use digital currencies to enforce negative interest rates, Reuters reported on July 5. Speaking at an event held by the publication, Masayoshi Amamiya, deputy governor of the Bank of Japan, said that states issuing digital currency with a negative interest rate would force inhabitants towards cash. This cash supply would remain, Amaiya said, and despite the current trend to replace it, no government would actually do so. “To overcome the nominal zero lower bound, central banks would need to eliminate cash,” he hypothesized. “Eliminating cash would make settlement infrastructure inconvenient for the public, so no central bank would do this.” Negative interest rates refer to banks charging holders of deposits to keep them invested. Japan was one of the countries taking up the practise in ..