Tag: Japan

World’s Largest Pension Fund Seeks Information on Bitcoin Under Portfolio Diversification Plan

Japan’s state pension fund, the world’s largest, is seeking information on bitcoin (BTC) as it considers options for portfolio diversification in response to changes in society, the economy and technology. The Government Pension Investment Fund (GPIF), which has $1.4 trillion in assets under management, requested data on potential investment diversification tools such as bitcoin and precious metals like gold, which…

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Crypto Exchange Kraken to End Japan Operations

Cryptocurrency exchange Kraken said it will exit Japan and de-register from the Financial Services Agency (JFSA) as of Jan. 31. The decision was prompted by “current market conditions in Japan in combination with a weak crypto market globally,” the company said in a blog post. Kraken users in the country have until the end of next month to withdraw their…

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Japan Passes Crypto Stablecoin Bill That Enshrines Investor Protection – Bloomberg

Japan’s parliament passed a bill on Friday that clarified the legal status of stablecoins, defining them essentially as digital money. Stablecoins must be linked to the yen or another legal tender and guarantee holders the right to redeem them at face value, according to the new law. The legal definition effectively means stablecoins can only be issued by licensed banks,…

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Yahoo Japan to Enter the Crypto Trading Fray with Nearing Taotao Launch

Yahoo Japan has tipped its hand to the upcoming launch of Taotao, its cryptocurrency trading platform. YJFX, Yahoo Japan’s foreign exchange (forex) platform, acquired a 40% share in Taotao, which was previously dubbed BitARG, in early 2018. Since making this acquisition, they have moved to set BitARG up as a Yahoo Japan branded subsidiary. The crypto trading platform is licensed…

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Japan to require crypto exchanges to bolster internal oversight: source | News | The Mighty 790 KFGO

Japan’s financial regulator will require cryptocurrency exchanges to strengthen internal oversight of the so-called “cold wallets” used to store digital money, a source with direct knowledge of the matter told Reuters on Tuesday. The move by the Financial Services Agency (FSA) highlights the difficulties in ensuring security of virtual currencies, as well as the broader risks for Japan as it…

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Japan’s cryptocurrency industry drafts self-policing rules – Nikkei Asian Review

In an effort to step up consumer protections and improve transparency, Japan’s cryptocurrency industry has drafted new regulations that prohibit insider trading and the trading of new currencies that cannot be traced easily. The Japan Virtual Currency Exchange Association, created in March, will vote on the proposal at a meeting on June 27. It seeks to adopt the rules as soon…

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Over 100 Firms Seek Licenses to Operate Cryptocurrency Exchanges in Japan – Bitcoin News

There are over 100 companies reportedly waiting for the Japanese Financial Services Agency to approve their registrations to operate cryptocurrency exchanges. While only 16 exchanges are fully licensed in Japan, the agency has allowed another 16 to operate without a license for the time being. However, going forward, only those with sufficient safety and customer protection measures are likely to…

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Japan Securities Watchdog Seeks Record Fine for Singapore-Based Juggernaut Capital Management – WSJ

Japan’s securities watchdog has proposed what would be the country’s biggest-ever penalty for insider trading or stock manipulation, as the government steps up its fight against illegal activity in the country’s equity market. The Securities and Exchange Surveillance Commission announced Wednesday it was seeking a ¥431.18 million ($4.4 million) fine against Singapore-based Juggernaut Capital Management Pte. Ltd. for allegedly inflating…

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