Risk Appetite Fuels Asian Stocks as Nikkei Surges to Four-Month High


Asian stocks were mostly higher on Thursday, as the prospect of U.S.-China trade talks and more stimulus from the European Central Bank (ECB) fueled risk appetite across the region. Nikkei Leads Asia Rally Japanese stocks were at the center of Thursday’s early-morning rally, with the Nikkei 225 index rising 190.19 points, or 0.9% to 21,787.95. The benchmark index is up more than 3% over the...

Japan Second-Quarter GDP Revision Sparks Recession Fears


Japan’s economic expansion cooled more than initially forecast in the second quarter, revised data showed, complicating the government’s planned consumption tax hike later this year. Ironically, the long-delayed sales tax increase is expected to shrink Japan’s GDP output later this year, plunging the country closer to recession. Japan GDP Revised Downward Japan’s gross...

Crypto Fever Plummets 14% in Japan Amid Bitcoin Exchange Sweeps

bitcoin interest in japan drops amid crypto exchange sweep

Interest in cryptocurrencies like bitcoin tumbled 13.9% in Japan, according to the country’s financial regulator. In data posted Sept. 3, the Financial Services Agency (FSA) says the volume of crypto-related inquiries fell in the latest quarter. The office handled 494 inquiries about crypto assets in the second quarter ended June 30. That’s a 13.9% decline from the 574 inquiries it...

Japan Bootstraps Regulated SWIFT-Like Global Crypto Payments Network

Japan, Crypto

Japan is set to further its pioneering spirit when it comes to cryptocurrency. The Japanese government is currently developing an international cryptocurrency payments network similar to the SWIFT network currently used by banks, Reuters reports. Japan Leads Crypto Into the Mainstream The Japanese plan is ostensibly designed to counter money laundering fears digital currencies have given rise to...

Crypto Not Cash: Hacked BitPoint’s Masterplan to Refund 50,000 Victims

BitPoint, Crypto, cryptocurrency

50,000 victims of the Japanese crypto exchange Bitpoint’s recent hack will have their stolen wallet holdings reimbursed in crypto. This was revealed in a press conference in Tokyo, where reporters were informed that the company had decided to pay back victims in crypto using a 1:1 ratio, as against fiat payouts. Bitpoint’s Unusual Alternative to Fiat Payouts This, is in contrast to...

Japan Studies Libra as Global Criticism on Facebook’s Cryptocurrency Intensifies


When it comes to Facebook’s Libra digital currency not even one of the most crypto-friendly countries in the world is turning a blind eye to social media giant’s cryptocurrency plans and hoping all will work out well magically. Rather, Japan is taking proactive steps to understand Libra’s potential ramifications even before the cryptocurrency has gotten off the ground. According to Reuters, Japan...

Hacked Japanese Crypto Exchange Fesses Up New $2.3 Million Theft, $35 Million Total

BitPoint, Crypto, Crypto exchange

After losing about ¥3 billion ($32 million) to cyber criminals last week, it now appears that hackers not only targeted the Japanese operations of Bitpoint but also other overseas exchanges running the firm’s cryptocurrency trading system. According to The Japan Times, cryptocurrencies worth $2.3 million were stolen in an earlier attack which targeted Bitpoint’s subsidiaries. The Japanese...

Japan Unleashes 200 Tax Specialists to Chase Undeclared Cryptocurrency Gains

cryptocurrency, Japan

By CCN: Japan is adding to its impressive compliance charge on cryptocurrencies by honing in on tax evasion. Through more stringent laws tracking cryptocurrencies, the Asian country will gain better access to data from exchanges. The National Tax Agency (NTA), the country’s tax authority, will deploy about 200 specialists to detect undeclared income gained from cryptocurrency trades. They...

Japan Leads G20 Nations’ Plot of a Global Cryptocurrency Exchange Register


By CCN: The hurdles of using crypto in money laundering are set to increase if plans by G20 countries materialize. Per Nikkei Asian Review, G20 countries are working on a deal aimed at creating a cryptocurrency exchange registry. The world’s most powerful economies hope the move will seal a loophole money launderers have exploited since the inception of bitcoin and other cryptocurrencies...

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

Yahoo Japan

By CCN: 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 by...

Trump Sees ‘Incredible’ Sumo Wrestling Before Tokyo Trade Talk Fireworks

sumo wrestling

By CCN: Donald Trump has again lived up to his maverick reputation. Despite worrying about hammering out a trade deal with Japan and staving off a recession that could imperil his 2020 election campaign, Trump found time to hit the golf course with Japanese Prime Minister Shinzo Abe. This was part of a three-pronged effort by the Japanese to get on Trump’s good side by appealing to the...

Dow Teeters on Knife’s Edge as Trump’s Trade Crusade Hits Japan

donald trump, japan, dow jones

By CCN: President Donald Trump flew to Tokyo today for high-stakes trade talks with Japan as stock market sentiment teeters on the brink of collapse. The maverick president’s erratic approach to international trade has taken a significant bite out of the Dow Jones (DJIA) over the last few weeks. Bulls will be desperate to see Trump’s bromance with Japanese PM Shinzo Abe survive the...

Japan Targets Bitcoin Exchanges for Money Laundering as G20 Looms

japan, bitcoin crypto regulations

By CCN: Japan’s financial regulators are considering enacting new rules aimed at bitcoin exchanges as it steps up anti-money laundering countermeasures. This issue will also be raised at the forthcoming G20 Summit, which takes place in Osaka on June 28 and 29. Specifically, the Financial Services Agency (FSA) is targeting crypto exchanges that don’t adequately confirm their...

Japan Regulator Surprises Crypto Exchanges with Sudden On-Site Inspections

Bitcoin, Japan, Crypto, FSA

By CCN.com: Japan’s Financial Services Agency (FSA) has reportedly carried out unscheduled onsite inspections at cryptocurrency exchanges Huobi Japan and Fisco Digital Asset Group(FDAG). According to Reuters, the inspection is taking place so that the regulatory body can find out if the exchanges have been taking adequate steps to protect their customers, as well as to check for legal...

Crypto Industry Matures as Bitcoin Exchange Reopens After $60 Million Hack

Zaif, Bitcoin, cryptocurrency

By CCN.com: Zaif, a Japanese crypto exchange that was hacked in September 2018, is preparing to resume its operations in Japan according to the official document released by the exchange. The document released by Zaif on April 19 stated that all users affected by the hack will be compensated fully. The company said that users have the right to seek the return of the crypto assets deposited with...

Japan Ramps Up Scrutiny into Crypto Exchanges’ Cold Wallets

Japan, FSA, Crypto, Financial Services Agency

By CCN.com: Crypto exchanges are a straightforward place to keep cryptocurrency when trading. Cash out fees accrue less quickly, and trades can be made much faster than having to transfer currencies from another wallet. The downside to keeping your funds on an exchange? More than $500 million was stolen exclusively from Japanese exchanges in 2018 alone. The funds stolen have left governments with...

Japan’s Biggest Bank Confirms Launch of Digital Currency ‘Coin’ in 2019

MUFG, Coin, Japan, Digital Currency

Following months of speculation about its proposed release date, Japan’s largest bank, Mitsubishi UFJ Financial Group Inc. has finally announced plans to launch its long-awaited in-house digital currency. Japan Times reports that Group President, Mike Kanetsugu revealed this week that the firm intends to rollout Coin before the end of 2019. According to Kanetsugu, MUFJ will lean on...

5th-Largest Japanese Bank Abruptly Ditches Ripple Trial

japan resona bank crypto ripple

Ripple, the blockchain-based payment network, suffered a setback after Japan’s Resona Bank said it would no longer use MoneyTap, a consumer-centric retail payments app that uses Ripple’s enterprise blockchain technology. Resona – Japan’s fifth-largest financial institution – did not provide a reason for the abrupt cancellation, which makes it the first Japanese bank...

Tron Foundation Pledges to “Collaborate” With Japanese Regulators


By CCN.com: Following the fiasco with the Tesla drawing, Justin Sun’s Tron Foundation has issued a statement on the Japanese market. The Japanese government has yet to finalize its ICO regulations, but the most recent news on that front is the issuance of guidelines by a local blockchain business association. No Tron Gambling for the Japanese In a note to the Tron community, the Tron Foundation...

Breaking: Japan’s Biggest Railway Plans to Accept Cryptocurrency Payments

Japan Railways Group, Cryptocurrency

Japan Railways Group, the biggest railway and subway operator in Japan that is used by millions of Japanese individuals on a daily basis, is considering the integration of crypto assets like bitcoin as a payment option. According to ANN News, a mainstream commercial television news network in Japan run by TV Asahi Corporation, JR Group is currently planning to establish a cryptocurrency company...

Japanese Court Acquits Coinhive Cryptojacker in Shocking Verdict

Coinhive, Cryptomining, Malware

‘Cryptojackers of the world, pack your bags and head to Japan!’ This seems to be the message a Japanese court delivered after a man who illegally operated cryptojacking software on his website was acquitted, Japanese publication The Mainichi. According to the Yokohama District Court, handing punishment to the 31-year-old who works as a website designer is excessive. The man had been...

Japan Throttles Crypto Margin Trading From 25x Down to 2x-4x with New Regulation

Japan cryptocurrency bitcoin

Following similar action by Japanese financial authorities last year, the country’s cabinet has approved a new raft of regulation aimed at bringing cryptocurrency trading into the mainstream fold. The Nikkei Asian Review reports that on Friday, the cabinet approved a set of amendments for existing payment services and financial instrument laws. Under the new regulations, cryptocurrency...

Japanese Police Arrests 18-Year Old Hacker for Stealing $134,000 in Monacoin

Japan Tokyo Ripple Monacoin

Local prosecutors in Japan have charged an 18-year old male with cryptocurrency theft. Per a report published in a local news outlet, the Metropolitan Police Department (MPD) of Japan are accusing the young adult of stealing 15 million Yen ($134,310) worth of stealing MonaCoin (MONA)—a Litecoin hard fork. According to the report, this is the first time local authorities have charged a hacker for...

How an 18-Year-Old Hacker Stole Millions of Yen from a Crypto Project

crypto hack, monacoin

According to local publications, an 18-year-old hacker stole 15 million yen, which is equivalent to $134,640, worth of a crypto asset called Monacoin. On Monappy, a platform that enabled Monacoin users to store their funds, the hacker initiated a large number of transactions in a short period of time to overload the system. Between August 14 and September 1, the hacker reportedly stole funds from...

Fake News: Japan’s Largest Bank isn’t Launching a Cryptocurrency

bitcoin japan cryptocurrency

Several crypto media outlets have reported that Japan’s Mizuho, the country’s largest bank, and dozens of others are launching a blockchain product. According to Quartz, however, these reports are false in the extreme: J-Coin has nothing to do with cryptocurrency or even blockchain in general. J-Coin: Definitively Not a Cryptocurrency Rather than a blockchain product, the J-Coin initiative...

Crypto Money Laundering Cases in Japan Dramatically Shoots Up 10-Fold


Suspicious financial transactions filed by Japan-based cryptocurrency exchanges increased ten times over the previous year, according to the National Police Agency. The central enforcement body said Feb 28 that 7,096 out of the total 417,465 suspected money laundering cases mentioned the use of cryptocurrencies in 2018. In the period between April and December 2017, the agency had reported 669 of...

Japanese Megabank Mizuho is Launching its Own Digital Currency in March

J-Coin, Mizuho, Digital currency

Almost a fortnight since JPMorgan unveiled its own cryptocurrency and nearly three years after conducting tests, Japanese financial giant Mizuho Financial Group has announced a launch date for its digital currency, J-Coin. According to the Nikkei Asian Review, the Japanese bank will unveil its own crypto known as J-Coin on March 1. The value of the J-Coin will be pegged to the yen with one coin...

Swiss Franc Plummets – Here’s What Caused the Haven Currency’s Mini ‘Flash Crash’

Swiss Franc

On Monday during the Tokyo session, the Swiss franc (CHF) was aggressively sold. The USD/CHF pair, for instance, touched the 1.0106 level. This was a high that the pair last reached in November last year. On the other hand, the Euro/Swiss Franc (EUR/CHF) pair touched the 1.1422 mark. Against the Japanese yen, the franc fell to 108.80 while against the sterling pound it touched the 1.3056 level...

Why Japan Might Quash Brock Pierce’s Plans to Re-Launch Notorious Bitcoin Exchange Mt. Gox

japan FSA mt. gox bitcoin exchange

Ever since the security breach of Coincheck in January 2018, formerly the largest crypto exchange in Japan, local authorities have imposed a stricter process in granting licenses to trading platforms that support Bitcoin and other cryptocurrencies. Recently CCN reported that Brock Pierce, the co-founder of Blockchain Capital, disclosed his plans to revive Mt. Gox, an exchange which lost billions...

Sony Shares Jump after Japanese Giant Announces Unprecedented ¥100 Billion Stock Buyback


Japanese conglomerate Sony will kick off a $910 million stock buyback program beginning next week, Reuters reports. The move will result in Sony buying a maximum of 30 million of its own shares. Consequently, the amount of the company’s outstanding shares will be reduced by 2.4%. According to a Bloomberg Intelligence analyst, Masahiro Wakasugi, Sony’s move was likely driven by the company stock’s...

Softbank CEO is $5 Billion Richer after Masterminding Company’s Biggest-Ever Stock Buyback


Another day, another $5 billion in the purse for SoftBank’s Chief Executive Officer Masayoshi Son. The Japanese business mogul saw a boost to his net worth after he maneuvered the biggest stock buyback in his company’s history. On Wednesday, shares of the SoftBank Group surged after Son announced that the firm would be initiating a stock buyback following the favorable financial performance it...

Japan Megabanks Kill Joint Blockchain Money Transfer Project, Turn to Their Own Cryptocurrencies

Japan, blockchain

Three of Japan’s biggest banks have canceled a joint project of a blockchain-based peer-to-peer money transfer service. The three so-called Japanese ‘megabanks’, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group, said the joint venture was a duplication of their individual efforts. They thus saw no need to continue, according to the...

A Scandal Unfolds: Japan’s Impressive Growth Rates Were a Lie; 40% of Economic Data Faked

Japan, Shinzo Abe, Scandal

Years of growth, trillions in government bonds, and substantial capital sought from outside investors may see a U-Turn in the coming days as Japan’s prized economic policies were found to be reliant on fraudulent data. As per estimates, over 40 percent of Japan’s 56 economic policies contain errors, casting a shadow on all of the country’s analysis and reports generated over the years. Faulty...

US Stock Market Still Not in All-Clear Mode: Tech Stocks Present Key Problems

dow jones us stock market caution wet floor sign

By CCN.com: The U.S. stock market has performed relatively well in comparison to other major regions including China and Japan, as seen in the strong performance of the Dow Jones throughout the past three weeks. However, analysts remain concerned about the upcoming earnings reports of technology conglomerates and leading corporations in struggling industries such as car manufacturing and finance...

Japan Not Considering Approval of Bitcoin ETF, FSA Denies Reports

Japan bitcoin etf cryptocurrency

According to a spokesperson from the Financial Services Agency (FSA), Japan is not considering the approval of a Bitcoin exchange-traded fund (ETF). Speaking to Bitcoin.com, an FSA representative said: There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them. Japan Doesn’t See the Need for a Bitcoin ETF Last...

Japanese Crypto Exchange Coincheck Granted a License, a Year after $530 Million Hack

Coincheck, Monex

Nearly one year after a $0.5 billion hacking incident, Coincheck has been handed a cryptocurrency exchange license. In a statement, the exchange’s operator indicated that beginning January 11, 2019, it is now registered as a cryptocurrency exchange agency with the Kanto Financial Bureau, the overseeing regulator. This is the first time Coincheck will be operating as a licensed outfit. At...

Could Japan’s Approval of the Bitcoin ETF Affect US SEC’s Decision?

Japan bitcoin etf cryptocurrency

On January 7, CCN reported that the Financial Services Agency (FSA) of Japan is considering the approval of the country’s first Bitcoin exchange-traded fund (ETF). With the final deadline of the VanEck Bitcoin ETF on the horizon, could the approval of a Bitcoin ETF in Japan have an impact on the decision of the U.S. Securities and Exchange Commission (SEC)? Probability of a Bitcoin ETF in US The...

Japan’s Financial Watchdog Might Approve Cryptocurrency ETFs After Saying No to Futures


The Financial Services Agency of Japan is considering approving exchange-traded funds which track digital assets, Bloomberg reports. According to sources who confided in Bloomberg, the financial regulator is at the moment gauging sector interest in exchange-traded funds tracking cryptocurrencies. This comes less than a month since the financial watchdog put aside plans for cryptocurrency futures...

Dow Jones Recovers by 5% But Why Are Investors Still “Shell-Shocked”?


Following a troubling performance on Christmas Eve, on December 26, the Dow Jones recorded a 5 percent increase of more than 1000 points, avoiding a bear market. Technology stocks in the likes of Amazon have recorded strong daily gains possibly due to the oversold conditions the market demonstrated. During Christmas, the e-commerce giant said that it reached record high sales, pushing the stock...

Japanese Bitcoin Exchange Coincheck that Lost $500M to Receive Full Licensing By End of Year

coincheck crypto exchange office

Readers may recall the January hack that cost Coincheck over $500 million. The largest theft in cryptocurrency history, the hack saw the exploitation of a vulnerability in the exchange’s security system and culminated in the loss of more than 500 million. New Economy Movement tokens, each worth over $1. As CCN’s Josiah Wilmoth wrote at the time: Notably, though, Tokyo-based Bloomberg reporter...

Quoine CEO Backs Bitcoin to Reach New All-Time High by 2019


It’s no secret the crypto industry is not particularly at its most profitable moment. However, despite the dire state in which the crypto market has found itself, there are certain people who believe things will turn around in a big way — a new all-time high, even. Among these is Mike Kayamori, CEO of Quoine, a Japan-based cryptocurrency exchange platform. Speaking in an interview...

Japanese Regulators Publish New Draft for Domestic Cryptocurrency Framework


Late last week, the Financial Services Agency (FSA), the top financial regulator in Japan, published a draft report which outlined the new framework for addressing cryptocurrencies and Initial Con Offerings (ICOs) in the country. The report was released following with the 11th study group meeting of the agency, and it contained a cumulation of recommendations from the previous ten sessions. As a...

Crypto Market Risks Dip Below $100 Billion After Dropping $15 Billion in Bad Week


In the past seven days, the valuation of the crypto market has dropped from $117 billion to $102 billion, by just over $15 billion. Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) performed poorly against the U.S. dollar, experiencing losses above the 10 percent mark. Out of the three most valuable crypto assets in the space, the Ethereum price suffered the worst drop...

Bear Market Hinders Coincheck’s Stabilization Effort after $530 Million Theft

Japan bitcoin etf cryptocurrency

The bear market that the crypto industry is facing has had a lot of adverse effects, with companies shutting down services and laying off staff members in their droves. Japanese cryptocurrency exchange Coincheck seems to be the latest company to feel the brunt of the dire crypto market state, according to reports from Nikkei Asian Review. A top executive of the firm was quoted by the outlet...

Newsflash: Japanese Prosecutors Want Former Mt Gox CEO Jailed for 10 Years

Mark Karpeles Mt Gox Bitcoin

The former CEO of the now-defunct bitcoin exchange Mt Gox, Mark Karpeles, could face up to decade in prison if prosecutors have their way. According to the Nikkei Asian Review, prosecutors are seeking a 10-year jail term for Mark Karpeles for embezzlement. Among the claims made by prosecutors at the Tokyo District Court include the fact that Karpeles diverted company funds to other ventures and...

Japanese Regulator Aims to Reduce Crypto Tax to Revitalize the Market

Coincheck, Monex

In October, the government of Japan hinted its plans to ease the process of taxing crypto investments to refrain impractical taxation frameworks from negatively affecting the local market. At the time, a committee of tax experts that is tasked to advise the government on taxation matters encouraged the authorities to simplify the complex process of disclosing taxable amounts that occur in...

Japanese Police See Surge in Suspicious Cryptocurrency Trade Reporting

Japan Tokyo Ripple Monacoin

The National Police Agency of Japan has revealed that between January and October this year, it recorded 5,944 reports from crypto exchanges regarding suspicious cryptocurrency transactions possibly involving money laundering and tax evasion. Figures reported by Jiji Press show that from 699 cases reported last year, the numbers have multiplied more than eight-fold, which the NPA sees as proof...

Japan to Force Crypto Exchanges ‘Tell on’ Suspected Tax Evaders

Coincheck, Monex

The Japanese government is seeking to impose measures aimed at preventing cryptocurrency traders and investors from evading taxes on the income generated from trading these assets. According to The Mainichi, the measures would see the country’s tax body, the National Tax Agency (NTA), empowered to demand that cryptocurrency exchanges provide information concerning clients who are suspected of tax...

Could South Korea Follow Japan in Allowing Private Crypto ICOs?

South Korea bitcoin cryptocurrency

On November 26, the Financial Services Agency (FSA) of Japan held an internal meeting to discuss the possibility of allowing private crypto initial coin offering (ICO) projects. Nikkei exclusively reported that local financial authorities are actively exploring the legalization of ICOs for institutional investors and accredited investors, as long as they are lawfully conducted within the...

Japan’s Financial Regulator to Issue ICO Guidelines: Report

Japan FSA cryptocurrency

Citing “informed sources,” Japanese press outlet JIJI Press reports that the Japanese Financial Services Agency is soon to regulate Initial Coin Offerings. The regulation will involve investment limits “for better protecting them.” Similar to how securities tokens are required to register with the American SEC in the United States, companies which intend to issue virtual currencies in exchange...