Bank of Japan: Blockchain Could Alter Financial Services
The way financial services are designed could evolve with the development of blockchain technology and distributed ledgers, the governor of Japan's central bank said this week. The new remarks from Haruhiko Kuroda, governor of the Bank of Japan, were issued at an event held at the institution's FinTech Center, itself established this year as part of an effort to study financial tech. He cited artificial intelligence and blockchain as advances that could alter the face of financial services. Kuroda said: "Given that the development of financial services has been supported by ledgers as....
Related News
Japan Post Bank is moving toward a blockchain-based yen currency for depositors, with a launch planned by the end of fiscal year 2026. Japan Post Bank Taps Into Blockchain For Digital Yen As reported by Reuters, Japan Post Bank is planning to launch a digital yen in the coming year. Japan Post Bank is a […]
Japan now has two new industry groups to support digital currency and blockchain business in the country, following the launch of the Japan Blockchain Association (JBA). Formed in mid-April, the JBA replaces the former Japan Association of Digital Asset (JADA), which has been active in the industry since July 2014. The new group includes high-profile....
Japan’s top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order to FTX Japan, the Japanese subsidiary of FTX.com. The financial watchdog has also ordered the crypto exchange to submit a business improvement plan by Nov. 16. Japanese Regulator Takes Action Against FTX Japan Japan’s Financial Services Agency (FSA) announced Thursday that the Kanto Local Finance Bureau has taken action against FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s embattled crypto exchange FTX.com. Three orders have been issued against the....
The Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation. Japan’s FSA Warns Bybit Fintech Limited Japan’s top regulator that handles banking, securities and exchange, and insurance sectors within the economy has recently issued a warning to Bybit Fintech Limited. Bybit is a crypto derivatives exchange that offers....
The Deputy Governor of the Bank of Japan, Hiroshi Nakaso, has revealed that there is no plan to issue digital currencies as a substitute for banknotes at the present time. Still, the official added the bank would “make utmost efforts” to understand and research blockchain technology, an innovation “born” with bitcoin in 2008, as stated by Nakaso. The Deputy Governor was speaking [PDF] at the University of Tokyo – Bank of Japan Joint Conference in Tokyo late last week. He opined that blockchain or distributed ledger technology (DLT) presents significant potential to affect “money” and....