LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant Line, is allegedly close to obtaining a crypto exchange operating license from Japan’s financial regulator. The news was reported by Cointelegraph Japan on June 20. According to the report, Japan’s Financial Services Agency (FSA) could issue the company with an exchange license as early as this month. The trading service, to be dubbed BitMax, would enable Line’s 80 million users in Japan to buy and sell multiple major cryptocurrencies, as well as Line’s native token Link, CT Japan notes. Per a press release recently shared with Cointelegraph, Line …

It was a “natural” development. That is how Mike Kayamori, the CEO of Liquid described an exclusive deal with Gram Asia on public sales of Telegram Open Network (TON), a decentralized network being developed by privacy-focused messaging platform Telegram. Kayamori told Cointelegraph how Liquid came to agree with Gram Asia. He also claimed that Liquid was the pioneer of initial exchange offering (IEO) and explained which advantages Liquid has in the IEO market. “Everything is between Gram Asia and Liquid” The upcoming IEO at Liquid is a public sale of gram, which is the native token of TON. The Liquid …

On May 31, the Japanese House of Representatives amended two cryptocurrency-related laws, the Payment Services Act and the Financial Instruments and Exchange Act, which will come into effect in April 2020. Most Japanese crypto exchanges have welcomed the changes, since they expect more institutional investors to join the crypto industry. However, others voiced their concerns that the changes may bring some uncertainty to custodians and wallet service providers. The two documents outline several specific changes, which can be discussed separately. The Payment Services Act (PSA) Virtual currency to crypto assets The new law revises the term “Virtual Currency” and says …

The Japanese Financial Services Agency (FSA) showed a cautious approach towards cryptocurrency-based exchange-traded funds (ETFs) in comments at the finance committee of the upper house of the National Diet on May 30. Cointelegraph Japan reported on the comments earlier today. Per the report, local politician Takeshi Fujimaki noted during the meeting that he expects a crypto-based ETF to be approved in the United States, citing both positive and negative statements released by United States Securities and Exchange Commission commissioner Hester Peirce. He then noted that such a product would be an important development and that Japan should not be left …

Japanese cryptocurrency exchange Taotao is expected to go live at noon on May 30, as per the company’s official Twitter page. Notably, the new trading platform is heavily backed by Yahoo Japan, marking the local internet giant’s arrival into the field of crypto. The timing seems to be on point, now that the market has finally shaken off the bear. But how likely is Taotao to dethrone its competitors — both current and those to come — in a complex market such as Japan? What is Taotao, and how exactly is Yahoo involved? The Yahoo Japan-backed platform was first mentioned …

Japan’s Financial Services Agency (FSA) is reportedly cracking down on crypto exchanges that offer anonymous transactions or have weak identity verification practices in preparation for inspection by the Financial Action Task Force (FATF) this fall. Nikkei Asian Review reported the development on May 22. The FATF will reportedly send its investigatory arm to review the strength of the Japanese FSA’s anti-money laundering (AML) policies, which includes policy for crypto exchanges and other financial services. Japan reportedly was given the worst possible score for identity verification in financial institutions in a 2008 report by the FATF. A decade later, the Japanese …

Japan’s Minister of Finance and deputy prime minister Taro Aso has urged reporters to stop using the term virtual currencies and switch to the newly-proposed legal name crypto assets. Aso — who also serves as the country’s Minister of State for Financial Services — made his remarks during a crypto-focused question and answer session at a press conference following a government cabinet meeting. The full transcript of the Q&A from March 26 was published by Japan’s Financial Services Agency (FSA) on April 26, alongside a provisional English translation. As Cointelegraph Japan reports today, the minister’s insistence on the use of …

Japanese crypto startup FXCoin revealed it has completed a third-party allotment of shares with financial services giant SBI Holdings. The development, which contributes to FXCoin’s aim of launching a crypto exchange business in the country, was reported by Cointelegraph Japan on April 15. FXCoin, which currently focuses on providing market information for investors, was founded in December 2017 by Tomoo Onishi — the former head of foreign exchange sales at Deutsche Bank. Alongside Onishi, who now serves as FXCoin’s CEO, the startup also reportedly counts Nomura, Mitsubishi UFJ Financial and HSBC veterans in its workforce. As Cointelegraph Japan further reports, …

Japanese finance regulator the Financial Services Agency (FSA) no longer wishes to describe Bitcoin (BTC) as a virtual currency, Cointelegraph Japan reported on April 8, quoting minutes of a meeting originally held on March 4. During a plenary session at the 41st General Assembly of the Financial Council and the 29th Financial Division Meeting, Professor Iwashita Goto of the Public Policy Graduate School of Kyoto University, petitioned members to adapt their view of Bitcoin. The largest cryptocurrency, he argued, has become something beyond a means of transacting, due to its borderless qualities, which have led it to appear throughout the …

The beginning of the year was particularly eventful for the Japanese crypto ecosystem, which is generally considered to be a major part of the industry. First of all, Japan’s Central Bank (BoJ) issued a study on the role of central bank digital currencies (CBDCs) in the current monetary system, a topic that was widely discussed by the country’s officials last year. Secondly, major domestic trading company and investment bank, Marubeni Corporation and Daiwa Securities Group, reported blockchain-related advancements in their businesses. Finally, local banking giant Mizuho Financial Group announced the launch of its custom stablecoin. Time to observe this news …

The Japan Association of New Economy (JANE) has asked the Japanese Financial Services Agency (FSA) to reduce the current tax rate for crypto trading income, Cointelegraph Japan reported on Feb. 14. Led by Hiroshi Mikitani, the CEO of Japanese e-commerce giant Rakuten, JANE has reportedly sent a proposal request to the country’s financial regulator asking them to tax crypto in compliance with progressive taxation instead of general taxation. According to the article, income from trading cryptocurrencies is currently taxed at 55 percent. Imposing progressive taxation on crypto gains intends to reduce the tax to 20 percent — the same rate …

Japan’s financial regulator has released Q4 2018 data on the number of enquiries about cryptocurrencies, showing further declines. The Financial Services Agency’s (FSA) report was published today, Feb. 8. The FSA, which is responsible for overseeing the country’s crypto ecosystem, published the latest data on enquiries from September to the end of December 2018. The Japanese watchdog received 788 enquiries regarding virtual currencies, which is a little more than half as many as the 1,231 enquiries in Q3 2018. The report states that 235 cases, or 29 percent, involve general enquiries and questions, while 228 cases, or 28 percent, are …