Bitcoin Trading Booms, Set To Spike in Japan As Regulation Improves
The push for the next spike in Bitcoin price could come from Japan very soon. More exchange traders are joining the bandwagon and the market outlook says there has been a rise in the value amount of Bitcoin traded after the first half of this year. Following a market research in July, BitFlyer says its virtual currency exchange has the largest Bitcoin trading volume in the first half of 2016 across Japan as it made a 200,000 registered users breakthrough in June. It says about 7.8 million bitcoins (worth about 430 billion yen) was traded within the January and June period in Japan and....
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BREAKING: According to Reuters, Japan will not regulate Bitcoin in the nearest future. Japan's Liberal Democratic Party has decided to go against Bitcoin regulation in the aftermath of the Mt. Gox failure. Bitcoin has been under scrutiny by the authorities in Japan, the temporary conclusion by the Liberal Democratic Party is therefor somewhat surprising. The Liberal Democratic Party lawmaker Takuya Hirai, who leads the party's internet media division, said on Thursday: Basically, we concluded that we will, for now, avoid a move towards legal regulation. He also told that a final decision....
Japan’s Financial Services Agency has allowed the Japan Exchange Group, operator of the Tokyo Stock Exchange, to use financial technologies like blockchain as its core trading infrastructure. The country’s financial regulator will now begin approving Fintech adoption on a case-by-case basis, according to a review in Nikkei. Previous regulation meant that JPX subsidiaries were limited to activities linked to exchange operations. The new and updated interpretation of the rule, however, allows the JPX to introduce technology that improves the operational efficiency of trading platforms. It is....
Japan's ruling political party has announced that it is against regulating bitcoin for the time being. The Liberal Democratic Party (LDP) made the statement as an interim measure, but the final decision will be made after hearing "more opinions" on the matter, said LDP lawmaker Takuya Hirai. "Basically, we concluded that we will, for now, avoid a move towards legal regulation," Hirai told Reuters. Mt. Gox fallout. Following the highly publicised collapse of bitcoin exchange Mt. Gox, Japanese authorities found themselves in the glare of the world's media spotlight. The exchange was....
Once known as a hub for crypto verse, specifically in the first decade of Bitcoin’s inception, Japan started to put regulations around the crypto sphere in 2018. Not eager to stifle innovation in the emerging sector, the country’s authorities placed tight trading laws on cryptos. The robbery of 850,000 Bitcoins worth $500 million on Japan’s […]
Vice finance minister Jiro Aichi of Japan has spoken up in light of the Mt. Gox drama, and he's said that bitcoin regulation should be an international effort, in order to avoid loopholes. Aichi said the ministry may respond "if necessary", but an investigation is underway regarding Gox's practices that reported saw the theft/loss of over 700,000 bitcoin, worth over $250 million USD. "It's not just the Ministry of Finance; many other agencies are related," he said at a news conference, according to Reuters. "As for its legal position, a currency [in Japan] would be coins or notes issued by....