Major Japanese crypto exchange Coincheck has launched an initial exchange offering platform for raising funds through utility tokens. According to an Aug. 25 announcement from Coincheck, the crypto exchange will be partnering with Japanese company Hashpalette to implement an initial exchange offering (IEO) to sell Palette Tokens (PLT) on the Ethereum blockchain platform Palette. The crypto exchange plans to coordinate the IEO with the Japan Virtual and Crypto assets Exchange Association (JVCEA) by the end of this year. Hashpalette was established in March as a joint venture between Japanese company Link-U and blockchain firm HashPort. The non-fungible tokens (NFT) can …

BitFlyer USA, the American branch of Tokyo-based cryptocurrency exchange BitFlyer, unveiled upcoming compatibility in the U.S. state of Hawaii. "We chose Hawaii due to the regulatory sandbox for digital currency they set up," BitFlyer COO Joel Edgerton told Cointelegraph. "We also chose Hawaii due to close links between the state and Japan," he added. "Our name recognition is particularly high in Hawaii.” Hawaii’s Division of Financial Institutions and its Technology Development Corporation constructed the Digital Currency Innovation Lab — the gateway used to bring BitFlyer into the state, said an Aug. 19 statement BitFlyer provided to Cointelegraph. In its initial …

The Tokyo District Court has issued Japan’s first ever crypto seizure. $46,000 worth of Bitcoin (BTC) was expropriated in relation to a hack suffered by the Coincheck exchange in 2018. Kyodo reported that police have already seized the BTC, which was held by a doctor from Hokkaido and an executive from the Osaka Prefecture. The two men were arrested in connection with the hack. They are accused of knowingly purchasing the stolen NEM (XEM) through a dark web market, violating organized crime laws in the country. As Cointelegraph reported in January 2018, Coincheck suffered a record-breaking hack when $534 million …

Persol Group, one of the largest human resource companies in Japan, has partnered with major Japanese IT and electronics company, NEC Corporation, to build a new blockchain-powered recruiting platform. Persol Group is one of the largest staffing companies in the country, with 32,000 employees and a market cap of $5.7 billion as of 2017. According to the announcement, the two companies have begun working on a Proof-of-Concept to test a direct recruiting service that utilizes blockchain technology to securely manage personal data, prevent falsification of information, and ensure authenticity. This new platform is expected to target the shortage of IT …

Plasm, a smart contract protocol built on Polkadot’s Substrate framework, has integrated Chainlink’s (LINK) price feeds. Interestingly, the oracle project itself will likely soon become a Polkadot parachain. Polkadot has a modular design wherein various parachains serve particular use cases. Its mainnet does not have smart contracts, but Plasm hopes to fill this void. Plasm CEO, Sota Watanabe, told Cointelegraph that they intend to use Chainlink’s data oracles for Plasm’s Lockdrop — a token distribution mechanism pioneered by Edgeware. In order to receive Plasm’s tokens, a user needs to lock Ether or Bitcoin in a smart contract. In return, the …

Crypto exchange BitMax just made Japanese messaging app LINE’s token available for trading. According to an Aug. 6 notice from LINE, the biggest messaging app in Japan with 84 million active monthly users will be making its native LINK (LN) token available for trading through crypto exchange BitMax. This makes LN the sixth crypto asset currently supported by the exchange, including Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Litecoin (LTC). The LN token was originally issued in 2018 for users as part of a rewards program through the messaging app. BITFRONT, LINE’s native exchange that covers areas outside …

This week’s headlines from Japan included Coincheck readying its digital shareholder meeting solution, GMO Coin announcing negative leverage trading fees, Decurret testing transactions with a power company, Japanese authorities proposing tax changes, and Japanese finance company FISCO developing apps for shareholder voting and staking. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Coincheck setting up for digital shareholder service As Tokyo-based crypto exchange Coincheck readies its new digital meeting avenue, the exchange's co-founder expressed confidence in the project. Known as Sharely, unveiled in June 2020, the digital shareholder gathering solution allows for participant …

Ryozo Himino, the new commissioner of Japan's Financial Services Agency, says the agency is wary of deregulating private cryptocurrencies. Noting that the COVID-19 pandemic could accelerate the transition to a cashless society, Himono instead emphasized the potential role of central bank digital currencies (CBDC) to spearhead innovation in digital payments. “Deregulating Bitcoins and other cryptocurrencies may not necessarily promote technical innovation, if doing so simply increases speculative trading,” he told reporters on Aug. 5. Japan should think "really hard" about whether to issue a CBDC Himono — whose proactive engagement with cryptocurrencies has been welcomed by voices in the industry …

Before a state of emergency had officially been declared to slow the spread of the pandemic in Japan, overall activity on crypto exchanges decreased as there was a spike in fiat deposits. According to data published in March 2020 by the Japan Virtual and Crypto assets Exchange Association (JVCEA), the number of active crypto accounts registered in the country decreased from 2,048,501 in February to 2,044,806 in March. This means that 3,695 fewer accounts may not have traded any digital assets. Deposits increase, activity decreases Yuya Hasegawa, a Market Analyst at bitbank, reported that though activity among crypto traders decreased …

Huobi’s Japanese branch has joined the Japan Security Token Offering Association, or JSTOA, as a “supporting member” along with Zaif, FXCoin, and 8 other local crypto players, according to the announcement published earlier today. “A full member must be a securities firm holding a Finance 1 licence,” Huobi Japan CEO Haiteng Chen clarified in a comment to Cointelegraph. “We don't obtain this licence and thus cannot apply for a full membership.” Huobi Japan aims to streamline “the transaction of security tokens” through this self-regulatory body. The JSTOA was launched in October 2019 by six major Japanese brokerage firms including SBI …

Japan’s “dormant” crypto accounts are starting to see activity as Bitcoin breached a critical price resistance level this week. According to the Japanese crypto exchange Coincheck, their trading volume this week has risen by two to three times in comparison to the previous one. Speaking to a selected number of the Japanese outlets, Yusuke Otsuka, the co-founder of Coincheck explained that existing users who hadn’t traded for a while became active again this week: “Some of our users already have accounts so the initial velocity is high.” If users already have accounts, they don’t have to take time to go …

The Bank of Japan has appointed its top economist to lead a team tasked with accelerating its research into central bank digital currencies (CBDC). According to a July 31 Reuters report, Kazushige Kamiyama’s appointment may mark a shift away from the bank’s previously cautious nature on digital currencies. Kamiyama had previously led the bank's efforts to use big data for conducting econometric analysis in real time. According to Reuters, this proved helpful when the Japanese economy was hit by the coronavirus epidemic earlier this year. Stepping up the pace of research Despite maintaining its position that it has no immediate …