Archive | FSA

Coincheck Produces Recovery Plan While Investors Flock to Withdraw Funds

Japanese cryptocurrency exchange Coincheck has submitted a report to the country’s financial authority outlining measures it will take following the hack that lost 58 billion yen worth of the cryptocurrency NEM from its platform. However, customers rush to withdraw 40.1 billion yen of their funds so far as the exchange resumes yen withdrawal service. Also […]

Japan Still Leads Asia in Bitcoin Market

In the wake of the second largest cryptocurrency theft ever on January, 26, which triggered painful memories of the Mt. Gox hack in 2014 Japan continues to lead the way in the Asian Bitcoin market. Japan will see tighter regulation but no ban Despite being home to the two largest cryptocurrency heists in history totaling nearly […]

Japan’s Most Popular Chat App Launching Cryptocurrency Exchange

The operator of Japan’s most popular chat app with approximately 168 million monthly users has announced its plans to launch a cryptocurrency exchange. Line Corporation has already begun the registration process as a crypto exchange with the country’s financial regulator. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Line Starting Crypto Business […]

Japan’s Financial Services Agency Isn’t Happy With Coincheck

Last week’s big news was how Coincheck got hacked. With hundreds of millions in funds lost, things are not looking great. The company will refund all users by using money from their own reserves, though. Moreover, the exchange now faces additional scrutiny in Japan as well. The local financial regulator ordered the company to get […]

Japan’s Largest Consumer Electronics Chain Trials Bitcoin Payments

Japan’s largest consumer electronics retailer Yamada Denki has partnered with the country’s largest cryptocurrency exchange Bitflyer to trial bitcoin payments. Initially, bitcoin will be accepted at two of Yamada Denki Labi stores in Tokyo, but the company plans to roll out the digital currency payment option nationwide in the future. Also read: Japan’s DMM Bitcoin Exchange […]

Japan Approves New Bitcoin Exchange as Adoption Grows and Peers Expand Overseas

The Japanese financial regulator has approved one more cryptocurrency exchange, making it the 16th exchange to be licensed. As competition intensifies, some local exchanges are branching abroad in search for more volume and liquidity. Meanwhile, more merchants are embracing bitcoin. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Another Bitcoin […]

High Demand Prompts Japanese Bitcoin Exchange to Seek Partner in Russia

A major Japanese bitcoin exchange is looking to enter the Russian cryptocurrency market and is seeking a local partner. The exchange’s CEO says “demand is huge” and urges Russia to look at Japan as a model for cryptocurrency regulations. Also read: Sberbank Apologizes for Buying Nearly All Graphics Cards on the Russian Market Japanese Exchange Eying […]

Japanese Financial Regulator Issues Warning on ICOs

While many people consider initial coin offerings to be high-risk investments, the rewards are often worth it for investors throughout the world. However, ICOs remain an unregulated market, and recently, Japan’s Financial Services Agency (FSA) warned of the risks posed by these crowdfunding campaigns. Price volatility and fraud potential The agency commented that the potential for fraud as […]

Chinese Exchanges Seek Second Chance in Japan and Other More Crypto-Friendly Countries

Following the crackdown by the Chinese government last month, bitcoin exchanges in China are looking to continue their businesses in cryptocurrency-friendly countries. Nineteen chinese companies are reportedly applying for a license to operate in Japan, while others are considering Singapore, Hong Kong, and South Korea. Also read: Japan’s GMO Plans to Sell 7nm Bitcoin Mining Boards […]

Coincheck Reopens Lending Service with 11 More Cryptocurrencies

The bitcoin lending service has resumed at Japanese exchange Coincheck, with the addition of eleven more cryptocurrencies that the exchange’s customers can lend out. Also read: Bitcoin to Be Accepted at 260,000 Stores in Japan by This Summer Extending Lending Service to 11 Cryptocurrencies Last month the Tokyo-based bitcoin exchange Coincheck launched a bitcoin lending […]

Bitcoin Could Tap into $40 Trillion Japanese FX Margin Trading Market This Year

Companies in Japan are reportedly scrambling to register with the Japanese Financial Services Agency (FSA) to offer bitcoin products or services. They aim to attract Japanese retail investors, also known as “Mrs Watanabe”, who currently favor the $40 trillion foreign exchange margin trading market. Also read: Petition Asks SEC to Clarify Rules on Bitcoin and Digital […]