New York Approves Its First Publicly Available Japanese Yen Stablecoin

New York Approves Its First Publicly Available Japanese Yen Stablecoin

The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses for companies engaged in crypto activities. First Regulated Yen Stablecoin Approved in NY The New York State Department of Financial Services (DFS) has granted a charter under New York Banking Law to GMO-z.com Trust Company Inc., a subsidiary of the Japanese giant GMO Internet. This enables the....


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Japanese Internet Giant Licensed to Issue First JPY-Pegged Stablecoin in New ...

The charter makes GMO one of only 27 companies licensed in New York to engage in virtual currency activities.

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US Judge Approves Mt. Gox's Chapter 15 Bankruptcy Filing

The Chapter 15 US bankruptcy filing submitted by defunct bitcoin exchange Mt. Gox won approval in a Dallas court today as part of a move that will send proceedings to Japanese courts for further deliberation. The case update, while largely procedural, should empower Japanese courts to take a greater oversight into the case, including any proposed restructuring plans. Bloomberg Businessweek summed up the importance of the decision, writing: "The ruling empowers the company's Japanese trustee to examine witnesses, gather and review evidence and oversee assets in the US, such as servers." Mt.....