Archive | FSA

World’s Fifth Largest Bank Joins Crypto Space with Digital Yen

Japan’s Mitsibushi UFC Financial group (MUFG), the world’s fifth-largest bank by assets, has announced it will trial its own digital currency as early as 2019, reports Cointelegraph. The move, which dates back as far as 2016, sees the Japanese giant running out the coin, valued at one yen, to 100,000 account holders, according to Japanese broadcaster NHK.  The […]

Japan’s Financial Watchdog Unveils New Guidelines for Cryptocurrency Exchanges

In attempts to prevent another Coincheck-like heist, Japan’s Financial Services Agency (FSA) has unveiled stricter standards for cryptocurrency exchanges that register with the financial watchdog. FSA: Stricter Guidelines for Exchanges Unlike neighboring China, the Japanese government has worked to grow the nascent cryptocurrency industry since it began recognizing Bitcoin and other digital currencies as a… […]

Mastercard Recognises the Influence of Cryptocurrencies

Mastercard released their 2018 Q1 financial results on May 2 showing record first-quarter net income of $1.5 billion and revenue of $3.6 billion. They attributed some of this success to the December and January boom in cryptocurrency prices as they expect results to drop following the recent bear market. Mastercard Acknowledge Cryptocurrency Influence Cross-border volumes increased… […]

Japan’s FSA Wants to Get Monero, Dash, and Zcash Removed from All Domestic Exchanges

Cryptocurrency is legal tender in Japan. There is active regulation in the country which makes Bitcoin and altcoins perfectly legal. That situation has been rather interesting to keep an eye on, as the law is still subject to interpretation. As of right now, the Japanese FSA aims to have cryptocurrency exchanges drop all cryptos which can be […]

Japan’s FSA Is Pressuring Exchanges to Drop Cryptocurrencies Favoured by Criminals

Japan’s financial watchdog is applying pressure to local digital currency exchanges to drop cryptocurrencies such as Monera, Zcash, and Dash, according to a report. Altcoins Favoured by Criminals In a report from Forbes, sources close to the the Financial Services Agency (FSA), which approves licenses to digital currency exchanges, claim that the agency is taking… […]

Japanese Crypto Enquiries Tripled in 2017

Figures released after the second cryptocurrency exchange group this year hosted by Japan’s FSA on 27 April show a tripling of cryptocurrency enquiries since the same time last year. The first such meeting which took place last month revealed that there were 3.5 million now trading in cryptocurrency in Japan. These new figures confirm the […]

Japanese Cryptocurrency Exchange Association Aims to Restore Public Confidence

Yesterday, the 16 cryptocurrency exchanges currently registered with Japan’s financial watchdog, the Financial Services Agency (FSA), announced the launch of the Japanese Cryptocurrency Exchange Association (JCEA), according to a Japanese media outlet. The self-regulatory body, chaired by Taizen Okuyama, president and CEO of cryptocurrency exchange Money Partners, aims to restore confidence in the country’s digital… […]

Cryptocurrency Exchange Kraken Withdraws from Japanese Market

Cryptocurrency exchange Kraken is suspending all of its services to Japanese residents. The exchange has been allowed to operate in Japan while its application with the country’s financial regulator is being reviewed. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Kraken Pulling Out of Japan Kraken announced on Tuesday the suspension of its services […]

Bitflyer Contests Reports of Insufficient Customer Verification Process

Japan’s largest cryptocurrency exchange Bitflyer has contested media reports that the Japanese financial regulator has deemed its user verification process to be insufficient. Nonetheless, the exchange admitted to being in talks with the authority and has implemented additional measures. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Reports of Financial Regulator’s Concerns The largest […]

Japan Has Over 3.5 Million Cryptocurrency Investors

Japan, the leading country in digital currency adoption, has over 3.5 million cryptocurrency investors, according to a preliminary report by the country’s Financial Services Agency on Tuesday. Japan Has Over 3.5 Million Cryptocurrency Investors, Says FSA The Financial Services Agency (FSA), Japan’s financial watchdog, has published a report that gathered data from the 17 leading… […]

Japan Crypto Traders Soar Past 3 Million

Individual cryptocurrency traders in Japan now exceed three million according to the country’s Financial Services Agency (FSA) figures just released. The figures represent domestic data recorded from 17 cryptocurrency exchanges as of 31 March this year; the first time that the FSA has made such a survey since its founding in 2000. The agency reported that […]

Two Crypto Exchanges Suspended by Japan’s Financial Regulator

The Financial Services Authority of Japan has imposed penalties on three cryptocurrency exchanges following inspections of trading platforms in the country. Two of them have been ordered to suspend operations. Officials are not satisfied with the measures implemented to prevent money laundering and systemic risks.    Also read: CEO of Korean Exchange Coinnest among Four […]

Bank of Japan’s Warning Has Little Effect Bitcoin Bounceback

Japan takes another side step with its relationship to cryptocurrency trading as the Central Bank releases a negative Q&A guide for those seeking information about the markets. BoJ Publishes Negative Q&A for the General Public The question and answer page translated from Japanese as “Let’s Think About Cryptocurrency” was released on a financial education site… […]