Japanese Financial Authorities Not Getting Involved With Mt. Gox Issues
With major issues going on at Tokyo-based Mt. Gox with regard to users getting their funds out, some are turning to to Japan's Financial Services Agency (FSA) with the hope the banking watchdog can possibly help in some manner. Unfortunately, it doesn't seem like it's going to happen. A Wall Street Journal report indicates the FSA is declining to get involved in the drama. "Bitcoin isn't a currency; it works as an alternative to currencies, like gold," said a spokesperson for the agency. "The FSA is in charge of currency-based services. Therefore, bitcoin exchanges are not a subject to our....
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More details keep appearing from the police investigation into the 2018 Coincheck hack that stole $530 million from the crypto exchange. Japanese authorities revealed that most of the individuals involved have a “high social status.” One of the Individuals Took Part in a NEM Swap Deal Is Worth $64 Million According to a report published by Bunshun, “the majority” of the men involved in the case are “high income” individuals. In fact, they come from different professional backgrounds, such as being company managers and doctors. Prosecutors said the....
According to reports, the Japanese government is one of the first countries to use non-fungible tokens (NFTs) as a supplementary award to local authorities that excelled in a digitization competition. The awards were given to local authorities as recognition for their efforts in using digital technology to solve local challenges.
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In what has been described as a first for the Japanese government, the country’s cabinet secretariat recently used non-fungible tokens (NFTs) as a supplementary prize during a ceremony to....
Being part of the stock market is not as fun right now as it was a few years ago. Every day, a new financial disaster seems to be waiting just around the corner. After the trouble started brewing in China a few months ago, the Japanese stock market is the next one to plunge. The reason for this is simple: government bonds are going negative for the first time. At the same time, Bitcoin is looking more and more appealing as a way to diversify portfolios. Japanese Stock Market Takes A Big Hit. In this day and age, being involved in the financial sector with one’s money doesn’t make for a....
The Mt. Gox maelstrom is starting to attract attention from law enforcement in Japan and the US. According to the Wall Street Journal, Mt. Gox has been subpoenaed by the US Attorney's office in New York. Additionally, a few thousand miles west, Japanese officials have confirmed that local authorities are looking into the matter, too. The Wall Street Journal cites an unnamed source, which revealed the federal subpoena was sent this month. Details are rather thin on the ground and at this point in time it remains unclear when the subpoena was sent, or what it is all about. In any case,....
Pretty much everyone observing the Bitcoin space, whether a participant or a critic, is wondering what happened in the alleged Mt Gox hack. After months of silence from the US and Japanese authorities over that most thorny part of the Mt Gox saga, official cooperation has finally been sought from the Japanese authorities based on a bilateral treaty on mutual legal assistance in crime matters. The alleged hack of several hundred thousand bitcoins had previously been ignored in bankruptcy proceedings, much to the ire of Gox creditors. The Path To Justice. The request seems to have been made....