Archive | FSA

Firm Behind Japanese Cryptocurrency ‘Spindle’ to Relocate to London Amid Investigation

The Japanese cryptocurrency Spindle, known for being promoted by the Japanese popular singer, actor and talent Gakuto Oshiro (45), aka GACKT, has announced it’s withdrawing from Tokyo to relocate its headquarters in London, amidst rumors that the Tokyo Metropolitan Police is investigating unregistered sales of cryptocurrencies made by the company. Also read: J-Pop Star GACKT Caught […]

Japan to Focus Cryptocurrency Regulation on Speculative Investments

The Financial Services Agency, the government agency that oversees banking, securities, and exchange services in Japan, plans to set up stricter requirements on cryptocurrencies and its use for speculative purposes. Japan Regulator May Impose Cap on Cryptocurrency Trading Leverage Bitcoin and other cryptocurrencies have mainly become tools for speculative investment in recent months. Recently, a… […]

Japan Shows Other Countries How Crypto Regulation Should Be Done

Japan has always been a very interesting country when it comes to cryptocurrency and regulation. It is one of the few companies which has made Bitcoin legal tender. The current approach of self-regulating cryptocurrency is still controversial, but the concept continues to gain a lot of traction regardless. Self-Regulation Remains a Risk Bringing more legitimacy to […]

Japanese Crypto Exchanges’ Self Regulator Applies for Official Status

The recently formed Japan Virtual Currency Exchange Association has applied with the country’s financial regulator to become recognized as the official self-regulatory body representing cryptocurrency in Japan. The JVCEA comprises of 16 licensed crypto exchanges, who are self-described as security inspectors of Japan’s cryptocurrency exchanges. The association has gone to great lengths to cover all […]

Japan Internal Affairs Denies Links to Regulator Exchange Inquiry

Japan’s Internal Affairs minister has refuted that she had any involvement in current FSA investigations into cryptocurrency exchanges. The minister, Seiko Noda, was accused of meddling in investigations which are only authorized to be conducted by the country’s financial watchdog, Japan’s Financial Services Agency (FSA). The current investigation is looking at a non-registered Toyko-based cryptocurrency exchange […]

Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation

Seiko Noda, Japan’s Minister for Internal Affairs & Communications, and Minister in charge of Women’s Empowerment, was questioned by the Japanese press on Thursday over her involvement with an unregistered cryptocurrency exchange, which was allegedly violating the Japanese fund settlement law. Also read: Japan Tax Agency Says Individuals Earning $1,800+ in Crypto a Year Will Declare […]

Japan Tax Agency Says Individuals Earning $1,800+ in Crypto a Year Will Declare Tax

The Japanese NTA (Tax Agency) has announced a new strategic policy put in place by July 15th to promote and improve the environment for people and companies to spontaneously declare their virtual currency income tax returns. Also read: Japan Contemplates Scrapping Its Progressive Crypto Tax Rate NTA to Devise Simplified and Automated Tax Return Filing Method […]

FSA Considers Changing Japanese Cryptocurrency Regulations

New information points towards the FSA, Japan’s financial regulating body, changing the legal basis on which cryptocurrencies are overseen in the country. FSA Considers Change to Regulatory Basis As was reported in local Japanese media Sankei on July 3, the Financial Services Agency is considering changing the legal foundation on which cryptocurrency regulation is based, from… […]

What Will New FSA Head Mean for Japanese Cryptocurrency Exchanges

As the position of minister of the FSA is about to change hands, questions about the future of regulations on cryptocurrency and blockchain based technology arise in Japan. Japan’s FSA to Change Hands As the current minister of Japan’s Financial Security Agency, Nobuchika Mori, heads into what most assume will be his last week guiding… […]

Japanese Investor Pleas for Lower Crypto Taxes Unlikely to Force Change

Japan’s minister of finance, Fukushiro Nukaga, doubts that the public would condone a change in cryptocurrency taxation in the Asian country, write Cointelegraph. Any change would essentially create a special case for cryptocurrency by lowering taxation to 20% from the standard rate which could be as much as 55%, which would be called a “separate […]

Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?

At press time, bitcoin is retaining its $6,100 price from yesterday. The currency fell to this position from $6,700 after Japan’s Financial Services Agency (FSA) sent notifications to more than five digital currency exchanges saying that they must heighten their security measures against money laundering after noticing weaknesses in their infrastructures. Bitcoin has continued to […]

Bitcoin Drops to Within 2018 Low Close to $6,000

Bitcoin fell to within touching distance of the $6,000 mark on Friday, a figure not seen since February, following improvement orders from Japan’s Financial Services Agency (FSA) to six of the country’s crypto exchanges. Bitcoin Continues to Fall The number one digital currency is seeing its value being chipped away as the integrity of the… […]

Japan’s bitFlyer Halts Taking on New Business to Fix Issues Following FSA Order

bitFlyer, Japan’s largest Bitcoin exchange, is being forced to stop taking on new business after regulators said it wasn’t doing enough to stop money laundering and terrorist financing. The move by the Tokyo-based exchange saw a drop in the price of the coin and highlights how the country’s financial watchdog, the Financial Services Agency (FSA),… […]