G20’s international watchdog, the Switzerland-based Financial Stability Board (FSB), said in its latest report that regulators need to improve their risk assessment strategies regarding financial activity in the crypto space, according to a report by Reuters on May 31. The report noted that one potential risk assessment metric regulators could look at is banks’ and other financial entities’ degree of exposure to cryptocurrency. The report also added that the FSB does not currently believe that crypto poses “a material stability risk” to the financial sector. As per the report, existing crypto regulations are somewhat weak, and the fast rate of …
A Japan-based blockchain platform says the country’s beloved anime industry is at an impasse. While the number of global fans for this distinctive, inimitable animation style has been growing exponentially, artists face “a harsh work environment with very little incentive.” Twilight Coin fears that, if this trend continues, it is unavoidable that both the quality and quantity of Japan’s anime culture will start to go in decline. This is why it is offering a “creator to consumer” model which enables artists to connect directly with fans and receive funding for projects that everyone is passionate about. The company believes that …
A blockchain-based company says it is seeking to cater to what it calls a growing demand for Japanese culture — creating animations, music, games and movies, as international interest in this industry grows. According to MINDOL’s white paper, the country’s government is investing heavily in a “cool Japan” strategy, designed to showcase powerful content and enable a market already worth 12 trillion yen domestically (about $108 million) to generate even more revenue from devoted fans in the U.S., Europe and elsewhere. The company has a thorough plan for producing content, and several projects are already in the works. MINDOL has …
South Korea’s messaging app operator Kakao Corp. is considering offering a private placement to attract investors to develop their blockchain subsidiary, Bloomberg reports today, June 28. Kakao Corporation’s blockchain initiative, the Tokyo-based Ground X, was announced at the end of March as part of the messaging app operator’s new Kakao 3.0 business plan aimed at the wider Asian markets. Bloomberg writes that Ground X aims to release a test version in September, with the blockchain platform going live by the end of 2018. Jason Han, Ground X’s CEO, told Bloomberg the blockchain platform may be considering getting capital next month …
Five more cryptocurrency exchanges have joined the Japan Virtual Currency Exchange Association (JVCEA), according to an official announcement on Jan. 4 from the JVCEA. The JVCEA is a self-regulatory body formed in April by 16 registered crypto exchanges that aims to create industry-wide investor safety standards. In October, Japan’s financial regulator formally granted self-regulatory status to the JVCEA to oversee the crypto sector. The body, made in part as a response to the January 2018 $534 million hack of crypto exchange Coincheck, had released a set of regulatory guidelines in June, including a ban on insider trading and prohibition against …