Cryptocurrency News From Japan: March 1-7 in Review

Published at: March 7, 2020

This week’s headlines from Japan include crypto exchange Zaif reopening account registrations, government agencies meeting on crypto, the Federation of Economic Affairs submitting a national Blockchain proposal, Coincheck adding Qtum, and Rakuten Wallet opening leverage trading account registration.

Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.

Zaif crypto exchange reopens account registration after hack

Japanese crypto exchange Zaif opened its doors once again for new account registrations, starting on March 6.

Hackers pilfered more that $63 million in crypto from the platform in 2018. After the hack, the company announced deposit and withdrawal suspension on Sept. 20, 2019.

Zaif also joined forces with a crypto exchange named FISCO in February 2020.

Japanese government agencies hold meeting on crypto

Japan’s National Police Agency, Financial Services Agency, and Consumers Affairs Agency came together for a Feb. 28 gathering on cryptocurrency exchanges and their contractors.

The entities discussed exchange checkups, contractors, communication with unregistered parties, and public notices.

Japanese Federation of Economic Affairs proposes a national Blockchain plan

Japan’s Federation of Economic Affairs and the Japan Blockchain Association, proposed a national blockchain strategy to the country’s internet technology, economy, trade, and industry ministers.

The strategy lists multiple use cases, calling Blockchain a “key technology for digital transformation,” which is “necessary to promote public-private partnership as a national strategy in the next era of the internet.”

The plan suggests creating a council focused on putting Blockchain to work for public and private partnerships. The strategy also notes expected government actions, including the formation of a game plan for the technology, as well as conducting regulatory and supervisory activities.

Coincheck adds Qtum to its exchange

Crypto exchange Coincheck unveiled plans to add crypto asset Qtum (QTUM) to its platform on March 12. Coincheck will offer customers trading and lending capabilities around Qtum.

Qtum joins a list of 11 other digital assets available on the exchange.

Rakuten wallet opens leverage trading accounts

One of technology giant Rakuten Inc.’s daughter companies, Rakuten Wallet, unveiled margin trading account registration. Customers can now open margin trading accounts on the platform and utilize 2x leverage.

Rakuten offers margin trading capabilities for Litecoin and XRP, in addition to its Bitcoin, Ethereum and Bitcoin Cash leverage trading options.

Tags
Blockchain
Cryptocurrency Exchange
Government
Japan
Rakuten
Coincheck
Zaif
Related Posts
Cryptocurrency News From Japan: March 22-28 in Review
This week’s headlines from Japan included Bitbank adding smartphone compatibility for identity verification, Fobi Japan announcing leverage trading, Coincheck announcing order limits, Rakuten Wallet announcing margin trading, and product trading company Marubeni testing blockchain for tracing steel pipes. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. BitBank launches smartphone ID verification Japan-based crypto exchange, BitBank, recently added smartphone compatibility for its Know Your Customer, or KYC, practices. Using their smartphone cameras, customers can now snap pictures themselves and related required paperwork for verification. At present, BitBank is only compatible with Apple’s iOS, although …
Blockchain / March 28, 2020
Rakuten, SBI, Monex Launch Japan STO Association: Official
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-regulations Chaired by Yoshitaka Kitao, CEO and representative director of SBI Holdings and an exec at Ripple Labs, the general incorporated …
Blockchain / Oct. 1, 2019
Japan to Check Money Laundering Policies of Crypto Exchanges Ahead of FATF Inspection
Japan’s Financial Services Agency (FSA) is reportedly cracking down on crypto exchanges that offer anonymous transactions or have weak identity verification practices in preparation for inspection by the Financial Action Task Force (FATF) this fall. Nikkei Asian Review reported the development on May 22. The FATF will reportedly send its investigatory arm to review the strength of the Japanese FSA’s anti-money laundering (AML) policies, which includes policy for crypto exchanges and other financial services. Japan reportedly was given the worst possible score for identity verification in financial institutions in a 2008 report by the FATF. A decade later, the Japanese …
Blockchain / May 23, 2019
Five More Exchanges Join Japan’s Self-Regulatory Crypto Exchange Association
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 …
Blockchain / Jan. 5, 2019
Japanese Police Note Uptick in Reports of Illicit Crypto Transactions This Year
There has been a significant wave of reports of suspicious cryptocurrency transactions to the police in Japan, English-language local media outlet Jiji.com reports Dec. 6. According to the report, the National Police Agency (NPA) have revealed that there have been 5,944 reports to the Japanese police about suspected illegal uses of cryptocurrencies, such as money laundering, between January and October. By comparison, the number of such reports last year was 669, but their number increased “after the implementation in April of a law obliging the [cryptocurrency exchange] operators to make reports to the police if they detect dubious digital currency …
Blockchain / Dec. 6, 2018