Friday, August 30: following the mid-week’s strong upswing, the crypto markets subsequently saw widespread corrections, but most cryptocurrencies are today consolidating these higher lows. The vast majority of cryptos are in the green, as Coin360 data shows. Market visualization from Coin360 Bitcoin (BTC) is trading at around $6,925 at press time, up around 1 percent on the day, according to Cointelegraph’s Bitcoin price index. Having broken through the $7,000 threshold earlier this week, the top coin began to dip August 29, trading as low as $6,827 by August 30. Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index On the …

Japanese e-commerce giant Rakuten, which has a market capitalization of over $12.5 billion, has revealed a 265 million yen ($2.4 million) deal to acquire domestic crypto exchange Everybody’s Bitcoin, in an announcement published August 31. The deal, which will reportedly be settled by October 1, has been made via Rakuten’s subsidiary, Rakuten Card Co. Ltd. It is based on a stock purchase agreement between the latter and Everybody’s Bitcoin parent company Traders Investment. Today’s announcement indicates that Everybody's Bitcoin reported a net loss of around $444,200 in the fiscal year ending March 30, 2018. Rakuten says it has been “considering …

Japanese social messaging giant LINE has launched its own cryptocurrency and in-house blockchain, according to an announcement released today, August 31. LINE has revealed that the genesis block of its new mainnent, LINK chain, was generated August 23. The company describes the mainnet as a “service-oriented” blockchain network that will enable decentralized apps (dApps) to be directly applied to LINE’s messaging platform. The company plans to issue a total of 1 billion LINK tokens to users of its platform, saying it will keep 20 percent — or 200 million tokens — as a company reserve. The tokens will be used …

In response to a reported increase in the illicit use of cryptocurrencies, Japan's National Police Agency (NPA) plans to introduce new software which can track cryptocurrency transaction history, Japan's national public broadcasting organization NHK reported August 30. In 2019, the National Police Agency will reportedly put special software into service to track the history of virtual currency transactions within the country. The move comes as part of an effort to fight the increased level of cryptocurrency misuse and thefts. In order to cover the expense of the new software, the NPA is looking to increase its budget by 35 million …

Japanese ICT conglomerate Fujitsu is launching an IOTA-based proof-of-concept (PoC) for audit trail processes in the manufacturing industry, according to an official notice released August 25. The notice says the company will use the IOTA protocol as an “immutable data storage medium” for audit trails across “industrial production environments and supply chains,” with the aim to improve transparency, data trust, and data security. Leopold Sternberg, Program Manager at Fujitsu’s Munich-based Industry 4.0 Competence Center, is quoted as saying that the new partnership will “help roll out IOTA as the new protocol standard,” saying that the tech giant is “well-equipped” to …

Japan’s New Energy and Industrial Technology Development Organization (NEDO) is working on a blockchain-based data sharing system for the trade industry, Cointelegraph Japan reported Thursday, August 23. The NEDO, Japan’s largest public management organization that promotes research and deployment of industrial and energy technologies, is reportedly developing a blockchain-powered project to streamline the infrastructure for trade information sharing. The organization is operating under the instructions of its parent body, the Ministry of Economy, Trade and Industry (METI). The project, dubbed “Development of Infrastructures for Creating New Industrial Models Taking Advantage of IoT” aims to establish an infrastructure system that will …

Creditors of hacked Japanese cryptocurrency exchange Mt. Gox began filing civil rehabilitation claims Thursday, August 23 in a fresh attempt to retrieve their lost bitcoins. An online claims submission process released by trustee Nobuaki Kobayashi details the various prerequisites for the exchange’s creditors, who now have until October 22 to submit a filing. The news follows on from an update earlier this month, in which officials clarified information about ultimate payouts and other issues. “If proof of claim is not filed by the deadline, then disenfranchisement (i.e., loss of the right to claim) might apply, so please be careful,” Kobayashi …

The commissioner of Japan’s financial regulator the Financial Services Agency (FSA) said that the agency wants the cryptocurrency industry to “grow under appropriate regulation,” in an interview with Reuters August 22. Toshihide Endo, commissioner of Japan’s FSA, told Reuters he sees the agency’s goal for developing the crypto industry as finding a “balance” between consumer protection and technological innovation. The commissioner added: “We have no intention to curb [the crypto industry] excessively. We would like to see it grow under appropriate regulation.” In July, the FSA had been considering changing the legal basis for regulating crypto exchanges to oversight by …

Japanese financial services giant SBI Holdings announced in a press release Monday, August 20, that it had made a second investment in troubled cryptocurrency exchange LastRoots. SBI, which last month opened its own cryptocurrency exchange after gaining regulatory licensing, without disclosing the amount of the investment, which follows its initial cash injection in December 2017. “We are preparing to strengthen our in-house team to register the virtual currency exchange business,” the company explained in the release about its plans for LastRoots. One of the exchanges singled out by regulators for improvement following Coincheck’s $530 million hack in January this year, …

An official from SoftBank has denied their involvement in the investment deal with Bitcoin (BTC) mining behemoth Bitmain that was reported last week by both crypto and mainstream media sources. As previously reported, Bitmain had allegedly sealed a pre-Initial Public Offering (IPO) financing deal which had brought its valuation to $15 billion. Both Chinese tech conglomerate Tencent and Japan’s SoftBank — another tech giant whose 15 percent stake in Uber makes it the drive-hailing app’s largest shareholder — were purportedly involved. After receiving an anonymous tip that Tencent and SoftBank were not actually involved in any deal with Bitmain, Cointelegraph …

Japanese social messaging app LINE announced the creation of a $10 million blockchain venture fund Wednesday, August 15, as part of its expansion into the cryptocurrency market. Launched via Hong Kong-based subsidiary unblock corp., the fund contains funds from fellow LINE sister outfit LVC Corporation. “Additionally, unblock ventures’ token fund is expected to expand in the future, according to the growth of the blockchain market,” the company commented in a press release, adding: “By launching this new corporate token fund, LINE is aiming to boost the development and adoption of cryptocurrencies and blockchain technology.” The move, it claims, makes LINE …

Japan’s financial watchdog, the Financial Services Agency (FSA), has published the results of its on-site inspections of cryptocurrency exchange operators, Cointelegraph Japan reports August 10. Based on its findings, the watchdog has decided to apply more rigorous oversight into new applications from exchanges hoping to receive an official operating license. Newly registered exchanges will be required to undergo on-site inspections at an early stage and the agency plans to closely examine the effectiveness of their business models. According to the agency, there are currently “hundreds” of companies awaiting its review. The FSA probe revealed that exchange operators’ maintenance of their …