Coinatory

Japan Plans to Reclassify Cryptocurrencies as Financial Products by 2026 Japan's Financial Services Agency (FSA) is preparing to reclassify cryptocurrencies as financial products, aiming to enhance regulatory oversight and address issues such as insider trading within the digital asset market. This initiative involves amending the Financial Instruments and Exchange Act, with the FSA planning to present the proposed legislation to Japan's parliament as early as 2026. Currently, cryptocurrencies in Japan are ca... cryptocurrency news Coinatory

Japan’s Metaplanet Rewards Shareholders with Bitcoin Tokyo-listed Metaplanet has launched an innovative shareholder rewards program, leveraging Bitcoin to enhance shareholder value and promote cryptocurrency adoption. Through a collaboration with SBI VC Trade, a subsidiary of SBI Holdings, the company plans to distribute Bitcoin rewards via a lottery system. Details of the Bitcoin Rewards Program To qualify, shareholders must own at least 100 shares by December 31, 2024. Additionally, new ac... Japan’s Metaplanet Rewards Shareholders with Bitcoin

Gate.io Halts Operations in Japan Due to Regulatory Compliance Gate.io has announced the cessation of its services in Japan, effective immediately, with a halt to new account openings for Japanese residents commencing on July 22. The decision aligns with the exchange's commitment to adhering to regional financial regulations. The exchange disclosed this development on Monday, indicating that a compliance process would be established for customers to migrate assets to platforms compliant with Japanese reg... crypto news today

Recently, Japan has softened its tax laws regarding cryptocurrency trading and business. There are reports that the United States and the United Kingdom, where high taxes are applied to cryptocurrencies, may follow the example of Japan. Aspiring to the mainstream, blockchain and cryptocurrency firms continue to resist outdated legislation. Realizing this, the three largest economies in the world - the United Kingdom, the United States and Japan - are taking steps to regulate cryptocurrencies and wisely manage the generated taxes. Changes in Japanese law classify profits from mining or trade as “other income”, which will be taxed at about 55% for high-yield companies. Financial regulators in Japan have introduced a legal framework ... Read more about " US and UK want to mitigate cryptocurrency taxation " on coinatory.com

The Japanese company GMO Internet published its financial indicators for the third quarter, in which it showed the profitability of its cryptocurrency businesses, despite the “harsh external conditions”. Reported by Cointelegraph. GMO reports that the production of its own mining equipment and a cryptocurrency exchange for the third quarter brought 2.6 billion yen in profits ($ 22.8 million). GMO Coin, the company"s cryptocurrency platform, in October reached 208,000 users with a trading volume of 89 billion yen ($ 781 million), and quarterly profit rose by 34.4% compared with the previous quarter. The mining segment of GMO also became profitable, but the numbers in the second and third quarters indicate a decrease in market act ... Read more about " Despite the “harsh external environment”, GMO"s crypto business remains profitable " on coinatory.com

GMO Internet, a Japanese online conglomerate, confirmed its plans to issue a stablecoin tethered to the Japanese yen. GMO, which in June announced ASIC miners based on 7-nm chips, and in September presented a platform for cryptocurrency trading, intends to begin the issue of stablecoins at the beginning of the 2019 financial year (in Japan it starts on April 1). In a statement, GMO notes that the main incentive for the development of stablecoin will be international money transfers: The currency provided by the Japanese yen is likely to ... Read more about " GMO announces stablecoin tethered to Japanese yen " on coinatory.com

In Reddit, there were rumors that the branch of the crypto exchange Kraken in Canada closes after three months of work. According to one version, this is due to the leakage of the database with the personal data of users, on the other - the pre-bankrupt state of the company. Earlier Kraken voluntarily left Japan, the decision to leave Asia was caused by the reason and the desire to save on costs, but the closure of a newly opened office can point to real problems with finances. The company denied rumors spreading in social networks about ... Read more about " Kraken crypto exchange underwent a "verbal attack" " on coinatory.com

More than 80% of the world"s companies realizing or implemented blockchain projects in varying degrees, with a quarter of them have already launched pilot projects or fully completed their implementation, according to a study by the consulting company PwC. The PwC study "Blockchain is here. What"s your next move? "Is based on a survey of 600 executives from 15 countries and territories: Australia, China, Denmark, France, Germany, Hong Kong, India, Italy, Japan, Netherlands, Singapore, Sweden, UAE, UK and USA. Respondents were asked questions ... Read more about " PwC: More than 80% of companies in the world implement blockchain projects " on coinatory.com

According to a report published by the South Korean State Development Bank of Korea (KDB), which finances and manages large industrial facilities in the south of the country, Pyongyang has begun to search for blockchain and plans to create its own exchange platform. KDB said that Chosun Expo, a North Korean IT company, received government permission to develop a site for exchange. According to the report, Pyongyang is interested in research on technology blockchain, as cryptocurrencies can be "anonymous, hard-to-trace and easily ... Read more about " North Korea wants to join the world of cryptocurrency " on coinatory.com

Chinese technical conglomerate Tencent denies its involvement in investing in the preliminary stage of the IPO of Bitmain Technologies, the world"s largest manufacturer of cryptocurrency mining equipment. What happened? August 10, both the cryptocurrency and mainstream media reported that Tencent and the Japanese conglomerate Softbank Group closed the round of Bitmain financing by $ 1 billion, in the run-up to the company"s IPO by $ 15 billion. This will be one of the largest IPOs in history, and therefore not surprisingly, that Bitmain is ... Read more about " Tencent denies participation in Bitmain pre-IPO " on coinatory.com

The island state became the center of attraction of the world"s largest sites for the cryptocurrency trade. Crypto exchange ZB.com, which is included in the top 10 sites by the cryptocurrency trade turnover, announced its intention to open an office in Malta. On the "island of Blockchain", as informally call this state not only the representatives of the crypto community but also the policy of the country itself, the Chinese crypto exchange is going to conduct its operational activities. We are talking about the servicing of transactions ... Read more about " Crypto exchange from the top 10 will open an office in Malta " on coinatory.com

A major Japanese company, Hitachi, is launching a joint project with a telecom giant KDDI. The blockchain system developed by Hitachi with Hyperledger Fabric technology is combined with the biometric verification of Hitachi and the KDDI coupon system. Hitachi explains that when customers agree to use the system, they register their coupon loans and biometric information, which are then coded into a line of encrypted data and stored in the blockchain. By initiating a transaction in a retail store that accepts these coupons and ... Read more about " Hitachi will launch a blockchain payments verified with a fingerprint " on coinatory.com

Bitcoin grew by 6.3% last week, rising above $ 6 800 and strengthening for the second week in a row. The global positive news is gradually giving confidence to market participants. The American regulator SEC is quite loyal to the registration of Exchange-traded funds (ETF) based on Bitcoin. South Korean authorities are planning to weaken measures to regulate the market of cryptocurrencies in accordance with the recommendations of the group of countries participating in the G20. The Coinbase Exchange is implementing the Coinbase Custody ... Read more about " BTC: what to expect this week " on coinatory.com

On Monday, the bitcoin price rises after a decline to $ 5,787 on Sunday, when the bitcoin price reached its lowest level in 2018 after the regulator of Japan demanded that local crypto exchanges improve their methods of operation. By 05:30 UTC on the Bitfinex exchange, bitcoin was trading at $ 6169.9, having risen 4.1% over the past day. The second largest by capitalization - Ethereum cryptocurrency on the Bitfinex exchange went up by 0.6% to $ 450.6. At the Poloinex exchange, the Ripple exchange price increased by 2.5% to $ 0.47575. The ... Read more about " Bitcoin price grows after falling below $ 5800 " on coinatory.com

Once the largest and most popular crypto exchange Mt.Gox, then bankrupt, has repeatedly been the cause of major collapses of the bitcoin price. Not without it and this time. According to many analysts, the sale of bitcoins on the exchange, which was carried out earlier this year by trustee Mt.Gox Nobuaki Kobayashi - and provoked a collapse in the price of BTC by 75%. However, the Mt.Gox bankruptcy trustee will not be able to sell and distribute among the creditors the bitcoins of a non-functioning enterprise anymore. The Tokyo ... Read more about " "Mysterious" seller, which has knocked down Bitcoin - won"t sell any longer " on coinatory.com

Until recently, the Japanese authorities were rather lenient towards the crypto exchanges. Although recently the rules of their work and control over them have become tougher, no exchange has lost its license. On the contrary, the authorities gave exchanges that failed to meet the standards, the opportunity to voluntarily withdraw the application and complete the operations. The first exception became FSHO. In recent months, it continued to work, although its application was in the process of approval by the Financial Services Agency ... Read more about " Japanese authorities closed the crypto exchange for the first time " on coinatory.com

June 4, Japanese financial giant SBI Holdings announced that its own crypto exchange started work after several months of downtime caused by security concerns. The service called VCTRADE is currently open only to users who pre-registered on the platform in October 2017. Representatives of the company said that, probably, it will be available to the general public in July this year. SBI also said that at the initial stage only Ripple (XRP) will be traded on VCTRADE, after which the exchange will gradually add support for Bitcoin and ... Read more about " First crypto exchange in Japan, launched by the bank " on coinatory.com

TGE Company has developed and launched the serial production of the "Reactor" mining platform, which can significantly improve the economic effect of the industrial development of cryptocurrencies. TGE President, Ilya Rashkin, believes that Russia now has all chances to become a global player in securing the world"s blockchain network by developing and manufacturing the first Russian mining equipment. It should be noted that, at the moment, China is the absolute leader in creating infrastructure for mining, and Russia accounts for only 2% of ... Read more about " TGE launched production of industrial miner "Reactor" " on coinatory.com

Tokyo-Mitsubishi UFJ, which is a subdivision of Mitsubishi UFJ Financial Group, is going to launch a pilot version of MUFG Coin virtual currency. If in 2019 the bank manages to realize this idea, it will become the first large financial organization in the world that created its own digital currency, CCN reports. Anyone who wants to participate in a trial version of the bank"s project must apply. Interested persons will need to install the application on a smartphone that makes yen exchange in units of MUFG Coin. Cryptocurrency can ... Read more about " The largest bank in Japan will create its own cryptocurrency " on coinatory.com

In the period from May 13 to May 15, the Japanese Monacoin cryptocurrency was affected by a network attack, which resulted in damage of $ 90,000. This is reported by CCN. The publication believes that this was a mining attack when one miner successfully mines the block on the blockchain but does not transfer the new block to other miners. If he finds the second block, before the others find any new blocks, then he can create a new longer chain of blocks in the Monacoin network. When he makes his longer chain public, he will annihilate all ... Read more about " The Monacoin network was attacked " on coinatory.com