Fake News: Japan’s Largest Bank isn’t Launching a 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 is an effort to modernize Japan’s economy. Roughly 4 in 5 transactions in Japan happen with cash, which puts it far behind the rest of the world in terms of electronic payment…

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

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 Nikkei Asian Review. Per the Japanese publication, the joint initiative would have allowed their customers to send and receive funds using email addresses or mobile phone numbers via virtual accounts linked to their bank accounts.…

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Hacked Bitcoin Exchange Zaif Discontinues New Registrations

Tech Bureau Inc., the owner of Zaif exchange, decided to suspend new account registrations at their trading platform temporarily. The decision came on September 28, 14 days after a hacking incident took place at Zaif and caused the crypto exchange more than $60 million worth of damages. Tech Bureau said in its press statement that The post Hacked Bitcoin Exchange Zaif Discontinues New Registrations appeared first on CCN

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Japanese I.T. Giant Fujitsu Unveils Blockchain Platform for Retailers

Japan’s I.T and computing equipment giant Fujitsu announced the launch of the cloud-based  Fujitsu Intelligent Society Solution Blockchain Asset Service on June 6, 2018. Fujitsu’s Blockchain Push Via an official announcement, the company revealed its plans for the use of blockchain technology in retail sectors – such as digital points, stamps, and coupons – aimed The post Japanese I.T. Giant Fujitsu Unveils Blockchain Platform for Retailers appeared first on CCN

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331 Japanese Cryptocurrency Investors Made at Least $1 Million in Profit Last Year: Tax Agency

Mainstream media outlets in South Korea and Japan JoongAng and Nikkei have reported that the National Tax Agency (NTA) of Japan is fully aware that 331 investors in the Japanese cryptocurrency sector recorded a profit of $1 million through trading, generating more than $331 million in total. Chasing Cryptocurrency Taxes By the end of 2017, The post 331 Japanese Cryptocurrency Investors Made at Least $1 Million in Profit Last Year: Tax Agency appeared first on CCN

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Crypto Exchange Giant Kraken Quits Japan Citing Rising Costs: Report

US-based cryptocurrency exchange Kraken will reportedly shutter its trading services in Japan due to rising business costs. Referencing an emailed statement from Kraken, Bloomberg is reporting that the San Francisco-based exchange operator is closing ‘all of its services’ in Japan with a tentative planned exit in June 2018. However, the exchange did leave the door The post Crypto Exchange Giant Kraken Quits Japan Citing Rising Costs: Report appeared first on CCN

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Bitcoin Briefly Drops to $9,000: Factors Behind the Decline

On March 8, the price of bitcoin dropped to $9,000, after reaching $11,000 merely 48 hours ago. Analysts have attributed three major factors to the decline in the price of bitcoin: Mt. Gox sell off, SEC announcement, penalization of Japanese exchanges. Mt. Gox Trustee Sell-Off According to the official document released by the Mt. Gox The post Bitcoin Briefly Drops to $9,000: Factors Behind the Decline appeared first on CCN

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Japan’s Cryptocurrency Exchanges Self-Regulate After $530 Million NEM Theft

The post Japan’s Cryptocurrency Exchanges Self-Regulate After $530 Million NEM Theft appeared first on CCN A total of 16 registered Japanese cryptocurrency exchanges are establishing a self-regulatory body in April, within months of the infamous $530 million hack of Coincheck. Japan’s two major cryptocurrency trade outfits are coming together to form a new self-regulatory body that will work with the Financial Services Agency (FSA), the country’s financial regulator, to establish … Continued The post Japan’s Cryptocurrency Exchanges Self-Regulate After $530 Million NEM Theft appeared first on CCN

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