Yoshitaka Kitao, Chief Executive Officer (CEO) of Japanese financial giant SBI Holdings, has proposed Ripple partner with multinational companies in addition to financial institutions. His recommendation was partially influenced by Japan’s handling of the COVID-19 pandemic. Kitao, also a Ripple board member, talked to reporters gathered for an SBI conference call on April 28. The CEO said that his lawyers would attend Ripple’s next executive committee and asked them to promote new partnerships with multinational corporations like Big Shosha, a Japanese trading company. "By adding multinational companies to the Ripple network and not just financial institutions we can expect [the …

This week’s headlines from Japan included Taotao exchange revealing positive first year numbers, the Japan Crypto Trading Association unveiling crypto asset market rates, Coincheck announcing recent positive fiscal year totals, and Cointelegraph diving into the scene around several exchanges in Japan. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Taotao exchange sees soaring volume Taotao, a crypto exchanged backed by Yahoo Japan, saw rising customer figures during Q1 2020, seeing over 7,000 total users by the end of March 2020. Glossing performance from a fiscal year that ended on March 31, data shows …

This week’s headlines from Japan included Rakuten Wallet, GMO Coin and DMM crypto exchanges achieving regulatory registration, SBI Holdings' VC Trade exchange announcing a 1,700% increase in fiscal year pre-tax profit, and SBI Holdings' CEO calling out the supply chain amid the coronavirus pandemic. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese exchange gains financial instruments license Crypto exchange, Rakuten Wallet, now holds status as a Kanto Finance Bureau-registered operation, "as a first-class financial instruments business operator based on the Financial Instruments and Exchange Act," the company announced on May 1. At …

The ongoing pandemic forced the postponement of the Olympic Games in Tokyo. This has triggered a series of online crypto-related scams, including an email from alleged members of the International Olympic Committee. In these emails, scammers ask unsuspecting victims for donations. As Trend Micro reported on April 30, scammers are asking for crypto donations so that Japanese organizers can recover from the economic impact produced by the postponement of the biggest Olympic sports event in the world. In the fake mail, an alleged member of the Olympic Committee states that the organization has to deal with the loss of money …

Japan’s Financial Services Agency (FSA) has certified two local organizations as Certified Financial Instruments and Exchange Associations. According to an April 30 announcement, the FSA has recognized the Japan STO Association and the Japan Virtual Currency Exchange Business Association (JVCEA) as self-regulatory groups for derivative transactions and security token offerings of crypto assets. JVCEA will subsequently be renamed the "Japan Crypto Asset Trading Business Association" on May 1. JVCEA is the official self-regulatory organization for the cryptocurrency industry in Japan authorized to create regulations and policies for cryptocurrency exchanges in the country. New law covers crypto derivatives trading JVCEA explained …

A new Bitcoin-themed manga series is set to be published amid a growing interest in crypto. The series, titled “Genesis Code”, has already debuted in Japan. It is compiled by the Young Animal manga magazine and distributed by the Tokyo-based publisher, Hakusensha. The publisher released a promotional video on April 28 with the front cover of the first edition. The cover shows the manga’s hero holding a coin emblazoned with the Bitcoin (BTC) logo. The story that surrounds the manga series According to a synopsis published by the series’ official website, the story revolves around the mystery of Bitcoin’s creation. …

BitMex, one of the world’s biggest crypto derivatives exchanges, announced on April 28 that it will close services to Japan residents starting May 1 amid new Japanese regulations. Earlier this month, the Japanese Cabinet decided in the Cabinet Order to establish regulations on any crypto derivative and fund procurement transactions. The notice explained that: “The restrictions are in response to the amendments to the Japan Financial Instruments and Exchange Act and Japan Payment Services Act effective as of 1 May 2020.” All traders will be affected The restriction will apply to both existing Japanese users and those registering for the …

A $30,000 proposal submitted by the group running Dash's Japanese website has just received approval to continue their efforts to get the token relisted in Japan. According to an April 27 update on a DashNexus proposal, Yosuke Suda of Dash Japan has purportedly been working with the Dash Core Group to get DASH back in the hands of Japanese investors. Suda — identified as “Samurai33” — originally posted the proposal on March 10 with the goal of getting the crypto asset “listed on registered crypto asset exchanges in Japan and to gain status equivalent [to Bitcoin].” He also hopes to …

The second largest bank in Japan will sign a deal with SBI Holdings to offer digital banking services available on smartphones. According to an April 27 article in the Nikkei newspaper, the Sumitomo Mitsui Financial Group (SMFG) and SBI have launched the first steps towards a multimillion dollar agreement expected to conclude later this week, before Japan enters its Golden Week banking holidays. In June, SMFG will acquire a 20% stake in SBI subsidiary NeoMobile Securities, holdings worth several billion yen. By the end of this year, SBI will accept an investment from SMFG to create a new $1 billion …

One of the largest cryptocurrency exchanges in Japan and one of the biggest Bitcoin brokers worldwide just announced their blockchain arm would be starting consulting services to address requests from new businesses on blockchain technology. According to an April 27 press release, bitFlyer Blockchain said they would be offering a fifth service — consulting — in addition to the BaaS, Joint Business, miyabi Core, and RegTech services available at the firm. It aims to target companies starting new businesses and revolutionize task management in industries such as finance, manufacturing, technology, real estate, and public sectors. The move comes in response …

This week’s headlines from Japan included Mitsui & Co. Digital Asset Management kicking off its security token project, Coincheck's fiat exchange listing seven altcoins, FXCoin unveiling physical crypto trading and XRP remittance testing plans, and GMO Coin listing three more altcoins. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Security token company tests security tokens in real estate Looking to create blockchain-based security tokens, Mitsui & Co. Digital Asset Management, daughter of Japanese product and material trading giant, Mitsui & Co., recently kicked off an initiative called the "Digital Securities Project." As part …

Huobi Token has become the first international exchange token approved by Japanese regulators, after the Financial Services Agency (FSA) approved HT as a compliant crypto asset able to trade in the world's second largest digital asset market from May. Only 25 other tokens have been approved on the FSA’s whitelist at this point as Japan tightens up regulations to better define crypto assets. Last year, the Japanese House of Representatives revised the Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA) with enforcement going into effect from May 1. Law firm Morrison & Foerster LLP reports that some …