Crypto News From Japan: Jan. 13-17 in Review

Published at: Jan. 18, 2020

This week’s news from Japan included additional comments against crypto trading from China, Binance’s potential involvement in Japan, positivity from the International Monetary Fund (IMF), more crypto exits from European Union (EU) regions, and stablecoin positivity from France.

Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.

China reaffirms its stance against crypto trading

Crypto-hostile China has once again confirmed its ban on crypto asset trading, according to comments from Beijing’s director of Financial Supervisory Administration Huo Xuewen.

"Virtual currencies cannot be used as legitimate digital currencies," Huo said to a Chinese news outlet on Jan 11, also adding that distributing and trading such assets is also unlawful.

"China does not allow cross-border cryptocurrency trading,” Huo continued. “No company can sell foreign cryptocurrencies in China and exchange cryptocurrencies with RMB.”

Binance aims to enter Japanese market through Tao Tao collaboration

Crypto exchange giant Binance is reportedly discussing collaborative terms with Z Holdings’ daughter company Z corporation, and Tao Tao, a digital asset trading platform in which Z corporation is invested. Z Holdings was previously known as Yahoo! Japan.

 The three entities are reportedly working on a deal that would result in a trading platform for citizens of Japan, in line with regulation.

New Japanese working group to consider security token offering regulations

As Cointelegraph Japan reported, on Jan. 16, the Japan STO Association has announced the formation of a new working group to develop guidance for regulating security token offerings in the country.

The new working group plans to focus on the mechanics of token operations, the functions of token holders, their use of blockchain, and their storage.

Crypto exchange Coincheck has begun distributing Stellar airdrop

Major Japanese crypto exchange Coincheck announced on Jan. 14 that they have begun distributing the 28 million Stellar XLM ($1.7 million) received in a 2017 airdrop.

Stellar, which launched in 2017, burned nearly $5 billion in tokens on Nov. 5. Shortly after, the token’s price rose substantially, only to slip for the next several months before seeing some gains in early January alongside a major bull market across the crypto world.

Source: Coin360

Tags
Altcoin
China
Binance
Stablecoin
Japan
Malta
France
Imf
European Union
Related Posts
Financial Institutions Use Stablecoins to Shake Things Up in 2020
For most people, the word “stablecoin” brings to mind cryptocurrencies like Tether or Libra. However, there are many versions of stablecoins — ranging from those that are backed by fiat money to those that are backed by real assets or even other digital currencies. Simply put, a stablecoin’s main aim is to solve the problem of volatility by being a digital asset that is tied to another asset with a stable value. The new year is already turning out to be an exciting time for stablecoins as interest among financial institutions picks up speed. There is talk of companies like …
Altcoin / Jan. 26, 2020
Alipay Denounces Bitcoin OTC Trading: Regulatory ‘Gray Area’ in China
Earlier in October 2019, Binance announced a fiat on-ramp for crypto trading via Chinese payment services Alipay and WeChat. This move was part of the exchange giant’s peer-to-peer (P2P) trading rollout for Bitcoin (BTC), Ether (ETH) and Tether (USDT) against the Chinese yuan. The public nature of this announcement did bring questions to the fore regarding the use of payment channels like Alipay and WeChat for crypto trading. Alipay did, in fact, release statements distancing itself from cryptocurrency trading activities, with Binance later clarifying that it wasn’t working directly with the aforementioned payment services. Meanwhile the evolving narrative around the …
Bitcoin / Oct. 19, 2019
How Facebook Libra Has Been Influencing Crypto, Politics and Finance
Over the past few days, a number of Libra-related announcements have been made — only, they weren’t from Facebook, the Libra Association, Calibra wallet or any other party involved in its development. First, top crypto exchange Binance announced a project called “Venus” — coincidentally, another astrology-themed name — which will focus on developing “localized stablecoins” worldwide; the People’s Bank of China (PBoC) said it is almost ready to launch its government-backed digital currency, reportedly admitting that Libra prompted it to speed up; and Erik Finman, ostensibly the youngest Bitcoin (BTC) millionaire, launched a crypto peer-to-peer (P2P) payment app, called “Metal” …
Altcoin / Aug. 23, 2019
Binance to Launch Fiat-to-Crypto OTC for Chinese Yuan in October
Cryptocurrency giant Binance plans to roll out its over-the-counter (OTC) trading platform for Chinese yuan in October. Chinese market targets Yi He, Binance co-founder and chief marketing officer (CMO) announced the news at a media session on Sept. 17, as Binance confirmed to Cointelegraph on Sept. 19. According to the CMO, Binance’s new OTC onramp is scheduled to launch next month and only targets the Chinese market, as the current plan envisions supporting the Chinese renminbi only, a Binance spokesperson said. To date, Binance has already set up an OTC trading desk that provides users with large transactions service, as …
Altcoin / Sept. 19, 2019
Government Tracking of Crypto Is Growing, But There Are Ways to Avoid It
Much noise has been made about the untraceable qualities of Bitcoin and other cryptocurrencies. Bitcoin "can be used to buy merchandise anonymously" said early primers on crypto, it offers users the kind of financial privacy that was previously available only from a "Swiss bank account," say more recent commentators. And given its ability to provide people with a layer of anonymity and privacy, it has been smeared by politicians, experts and mainstream journalists alike as a hiding place for almost any hacker, drug dealer, gang member, terrorist or despot you could possibly name (even if cash is still the preferred …
United States / Oct. 7, 2018