Places Japan

GMO Internet, a major Japanese-based technology company, has shuttered its division responsible for designing and manufacturing mining chips. Mounting losses from a weak cryptocurrency market resulted in the sudden decision. In a statement released on Dec. 25, GMO explained to investors that the “increasingly competitive” mining business has resulted in the company cutting its losses. […]

Japan will test pilot a service to allow passengers to pay for limo rides with cryptocurrency, according to an article published Sunday by Bloomberg. Tokyo limousines to start accepting crytpocurrencies https://t.co/4tsGWPoicl — Bloomberg Crypto (@crypto) November 5, 2018 Expanding Into the Ride Business Payment company Remixpoint Inc., which also has its hands in the energy […]

Binance released a report Oct. 24, outlining its role in the aid of the victims of the 2018 West Japan floods. According to the report, the exchange donated 63.03 BTC and 169.85 ETH, the combined fiat equivalence of which exceeded $500,000 at the time of donation. The 2018 Japan Floods Japan suffered the worst flood […]

Japan, the largest cryptocurrency exchange market by daily trading volume, has allowed the local crypto market to self-regulate, demonstrating trust towards the country’s cryptocurrency-related businesses. The decision of the Financial Services Agency (FSA), the main financial watchdog of the country, comes in a period in which two of the biggest digital asset exchanges in its […]

GMO Internet Group, a publically listed Japanese Internet company, has recently announced plans to launch a yen-backed stablecoin early next year. The new stablecoin dubbed GMO Japanese Yen will trade under the ticker symbol GJY. The press release also mentions that GMO Internet Group sees three areas of the digital currency space, which are “exchanges”, […]

Last week, CryptoSlate reported on Japan resident Ken Takahashi’s Change.org petition to make Ripple’s XRP the official cryptocurrency of the 2020 Olympic games. At the time the petition had reached over 5K signatures toward a goal of 7,500. It now stands at nearly 12K signatures and has raised the end goal to 15K. Bypassing the […]

Ten months ago, Ken Takahashi started a petition on Change.org to make XRP the official crypto of the 2020 Tokyo Olympic games. Today, it has over 5,200 signatures out of a needed 7,500. Hitting milestones Once created, the petition reached 500 signatures with relative speed, and jumped from 500 to 1,000 in less than 72 […]

Japanese cryptocurrency exchange Mt. Gox has another mountain to climb as a court-ordered civil rehabilitation pressure the company into near-bankruptcy. Mt Gox trustee Nobuaki Kobayashi, who procured the nickname “Tokyo Whale,” during the peak of his company’s extravagant bitcoin delegation, sold 24,658.00762 Bitcoin (BTC) and 25,331.00761 Bitcoin Cash (BCH) between March 18 and June 22 . That’s a […]

XRP, the native cryptocurrency of the Ripple network is up another 10 percent as investors speculate on what has caused its price to nearly triple in the past week. According to prominent investors and analysts, the staggering 155 percent price increase of Ripple in the last seven days from $0.27 to $0.69 is largely attributable […]

While the Japanese cryptocurrency exchange Zaif faces backlash following a Sept. 14 hack, the NEM.io Foundation, known for the NEM blockchain platform and XEM token, has reassured its asset holders that it remains unaffected. Nem Suspends Zaif Withdrawals During the hack, holdings in Bitcoin (BTC), Bitcoin Cash (BCH) and MonaCoin (MONA) were subject to stolen funds. […]

In a move that could send Japan’s cryptocurrency market skyrocketing into American digital assets trading, Huobi Global’s subsidiary Huobi Japan has been declared a majority stakeholder in Japan’s BitTrade platform. The move also marks how Singapore’s powerhouse entrepreneur Eric Cheng has leveraged his international brand with the trillion-dollar company to become the largest trading platform […]

Japan’s Financial Services Agency (FSA) has pulled the reins in on aspiring and existing cryptocurrency exchanges by implementing a more rigorous screening process for risk-management procedures, according to Japan Times. The new order is supplementary to the Payment Services Act of April 2017, which requires all cryptocurrency exchanges to prove their solvency with audited record-keeping as well as […]

Blockchain integration continues to pervade industries worldwide, including mobile applications. Popular messaging app Line is launching its own LINK token, a cryptocurrency built on the platform’s native LINK Chain. Apps and dApps Collide Line, a social messaging platform, is set to build an in-app token economy through the launch of its LINK token and LINK […]

After several instances of cryptocurrency-based crime and a stark increase in the use of cryptocurrencies as a money-laundering tool, Japan’s National Police Agency (NPA) revealed it would launch a crypto-tracking software to trace digital currency transactions in the country. Japan’s Push for Cryptocurrency Legitimacy According to the country’s public broadcasting organization NHK, the special software […]

In 2014, Mt.Gox declared bankruptcy after losing over 744,000 Bitcoin in a large-scale hack. Released August 1, 2018, Mt.Gox creditors revised their proposal to claim Bitcoin repayments and expedited compensation procedures. Creditors to Be Paid in BTC and BCH Mt.Gox creditors released a revised basic policy for their Bitcoin (BTC) repayments following the Tokyo District […]

Global investment firms and cryptocurrency exchanges are rushing to develop new digital asset markets in preparation for impending regulations. Announced on July 31, 2018, SBI Holdings invested $9 million in Clear Markets to create a cryptocurrency derivatives trading platform. SBI Crypto Investment Makes First Move Japanese financial services powerhouse SBI Holdings invested 1 billion yen […]

The regulatory body overseeing Japan’s digital currency and trading market introduced a rule that could potentially affect thousands of traders in the cryptocurrency-crazy nation. Regulating Crypto, One Step a Time As reported by Nikkei Asia Review on July 25, 2015, the Japan Virtual Currency Exchange Association (JVCEA)  announced a widespread crackdown on the country’s margin […]

In 2018, within a span of two months, the largest crypto exchanges in Japan and South Korea were hacked. A New York-based cyber security firm declared more breaches are yet to come. According to BLAKFX president Robert Statica, crypto exchanges are easier to hack than most online platforms, especially for experienced hackers. Statica explained that […]