This week’s headlines from Japan included SBI announcing a digital asset investment fund, Bitflyer Holdings using blockchain for shareholder meeting voting, Japan's Financial Services Agency warning two unregistered crypto exchanges, a Japanese digital asset exchange self-regulatory group changing chairmen, and Coincheck announcing launch details for its digital shareholder meeting platform. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. SBI unveils a crypto investment fund As an option for individual participants, Japanese financial services entity SBI Holdings expects to form and open Japan's first digital asset fund at some point over the next few …
On March 8, 2016, Japan announced Bitcoin as a legal form of payment; its adoption was flourishing and only positive things could be said about the digital currency as the digitally inclined population embraced cryptocurrencies. Japan was a leader in Bitcoin and cryptocurrency innovation and adoption. From ‘Miss Bitcoin’ to the slew of businesses that the island nation received after China’s ban on cryptocurrencies, Japan was becoming a super power of digital currency and happily taken the mantle, headlong. Bitcoin businesses were booming in Japan — especially exchanges — but there came a turning point. Japan’s boom had been down …
Japan’s Minister of Finance thinks that it is doubtful the public would accept a change in the taxation of cryptocurrency transactions, Cointelegraph Japan reports today, June 25. During today’s Upper House Budget Committee meeting, Senator Fujimaki asked Japan’s Deputy Prime Minister Taro Aso whether crypto transactions should be taxed via a “separate settlement taxation,” rather than their present classification as “miscellaneous income.” Aso said the prospect was “doubtful” and expressed concern over the public’s reaction due to “tax fairness.” The current tax rate for crypto transactions has a maximum of 55 percent, and changing its category would bring it to …
Japan’s Financial Services Agency (FSA) will be issuing business improvement notices to five registered cryptocurrency exchanges by the end of this week, Cointelegraph Japan reports Tuesday, June 19. According to the FSA inspections, crypto exchanges BitFlyer, Quoine, Bitbank, BITPoint Japan, and BtcBox do not have the proper internal management systems, including their measures to prevent money laundering. BitFlyer, Quoine and Bitbank are some of the largest crypto exchanges both in the country and in the world, currently sitting at 27th, 18th and 20th places by trade volume, according to Coinmarketcap data. When asked about the business improvement notices, BITPoint Japan …
Monex Inc, the company that recently acquired hacked Japanese crypto exchange Coincheck, has revealed plans to expand the exchange to the U.S. in an interview with Bloomberg today, May 18. Monex CEO Oki Matsumoto said he expects Coincheck will receive an official license from Japanese authorities next month, but - without specifying a timeframe - he revealed the company now has its sights beyond Asia: “Japan may seem like it’s one step ahead in crypto, but in terms of deciding what’s a security or a token and attracting institutional investors, the U.S. and Europe are moving ahead.” Japan has long …