The Japan Virtual Currency Exchange Association (JVCEA) said it wants to place restrictions on member exchanges’ margin trading. The news of the plans of Japan’s self-regulatory cryptocurrency body comes from a Chinese media report July 24. Margin trading is the practice of borrowing money from the broker, used by crypto traders to buy or sell more cryptocurrency than they could afford on their own - thereby increasing their potential profits, along with the losses. The JVCEA, which is still testing the water regarding its own effectiveness after officially coming into being earlier this year, wants to limit the amount margin …

The world’s fourth-largest telecoms provider, Japan’s Nippon Telegraph and Telephone (NTT), has filed a patent for using blockchain tech for contract agreement, according to a U.S. Trademark and Patent Office (USPTO) release on July 19. NTT’s patent application writes that a problem with contracts on blockchain is that each transactions “contains only the electronic signature of the sender” as the “evidence of contract agreement by the receiver is not left in the transaction.” The patent suggests a “simple, possible way to solve this problem is to, for example, include the electronic signatures of all the involved parties in one transaction.” …

Japan’s Internal affairs minister Seiko Noda has denied her involvement in a government investigation into the operation of a non-registered cryptocurrency exchange, local news outlet the Asahi Shimbun reported July 19. In January, the Financial Services Agency (FSA) reportedly suspected a Tokyo-based company of violating the law by operating a non-registered cryptocurrency exchange. The FSA requested a written response to its concerns from the company, arguing that it “did not respond by the deadline given, it would report the matter to investigating authorities and take necessary steps.” The document obtained by the Asahi Shimbun reportedly revealed that several days after …

Japan has overhauled its financial regulator, the Financial Services Agency (FSA), in order to better deal with fintech-related fields, including cryptocurrencies, news outlet Nikkei Asian Review reported July 17. Changes were made to various bureaus in order to make the organization more suited to address new problems and challenges in the financial sector. Starting today, the newly created Strategy Development and Management Bureau, which replaced the Inspection Bureau, will reportedly develop a financial strategy policy and handle issues addressing the digital currencies market, fintech, and money laundering. Additionally, the bureau will be responsible for administrative duties and inspection of financial …

Japanese internet services giant GMO Internet Inc. has today launched a new internet banking business that will leverage blockchain as a central part of its technological arsenal. The news comes from a company announcement Tuesday, July 17. The project has reportedly been in the works since July 2016 via the ‘GMO Aozora Net Bank,’ in which GMO Internet, GMO Financial Holdings and Aozora Bank are joint investors. According to today’s announcement, blockchain will feature as a key component of the new venture, alongside other cutting-edge technologies such as artificial intelligence (AI) and Internet of Things (IoT). GMO says it believes …

Japanese internet giant SBI Holdings formally launched the public version of its cryptocurrency exchange VCTRADE, according to an official announcement July 17. The move came after several months of delays as SBI conformed with regulatory demands for tightened security. “Account opening is available for individuals from 20 to 70 years old residing in Japan,” a brief notice confirmed, adding that “applications for setting up accounts from corporate customers are not currently accepted.” SBI has become an active blockchain presence over the past year, being notable for its endorsement of payment network Ripple. VCTRADE initially catered to the network’s XRP token …

Julian Hosp, co-founder and president of crypto startup TenX, says he’s still “quite confident” that Bitcoin (BTC) can hit $60,000 in 2018, CNBC reports Wednesday, July 11. During an interview at the Rise conference in Hong Kong, Hosp told Squawk Box co-host Akiko Fujita that he still stands by the initial 2018 forecast he made in December for the leading cryptocurrency: "Back then, December, price was at a $20,000 all-time high. I predicted for 2018, we're going to see $5,000 and $60,000. So $5,000, we’ve pretty much hit it, so let's see if we can do the $60,000. I'm still …

Sirin Labs, a Swiss-based smartphone developer, will release a blockchain-based phone in November this year, the company told Cointelegraph on July 11. In December 2017, Sirin Labs raised $157.8 million for the project during their Initial Coin Offering (ICO), with $110 million gathered over the first 24 hours. Sirin Labs had also previously released a privacy-focused smartphone in 2016, with a market price of $16,000. The new blockchain-based phone, called Finney, is scheduled to go to market with an expected price of $1,000, Sirin Labs told Cointelegraph. Based on the Android system, Finney will run on SIRIN OS and include …

A company that bills itself as the “world’s largest cosplay platform” is turning to blockchain to help the industry develop a sustainable economy — tackling issues such as harassment and copyright in the process. Cure WorldCosplay is an international community with more than 720,000 members in 180 countries. Available in 12 languages, the company says it offers a platform for talented cosplayers, photographers and prop makers to showcase their work. More than 6.5 million images have been shared on its service to date, and in excess of 430,000 people follow the platform’s official social media accounts. In its white paper, …

A global blockchain consortium of telecom carriers has announced that six further major international telecoms firms are joining its ranks, CT Japan reports today, July 6. The consortium, dubbed ‘The Carrier Blockchain Study Group’ (CBSG) has also today unveiled the creation of a new blockchain working group that will focus on global remittance services. Launched in September 2017, CBSG counts as its founding members Japanese telecoms conglomerate Softbank, Taiwan-based telecoms carrier Far EasTone, and two U.S.-based firms - telecoms-focused blockchain firm TBCASoft and telecoms firm Sprint. Three further members have since joined, these being South Korean LG Uplus, UAE-based Etisalat …

Japanese financial regulator the Financial Services Agency (FSA) is considering to change the legal basis for how it regulates cryptocurrency exchanges, local media Sankei reports July 3. The FSA reportedly is considering to regulate crypto exchanges by the Financial Instruments and Exchange Act (FIEA), instead of its current legal foundation, the Payment Services Act. According to Senkai, this means that the exchanges will have stronger customer protections. The FIEA obliges securities companies to manage customer funds and securities, such as stocks, separately from corporate assets. Under the current legislation, cryptocurrencies are legally positioned as the same means of payment as …

A new cybersecurity report from Kaspersky Labs notes a significant decline in the amount of ransomware targeting Internet users as compared to the growing increase of cryptojacking, in a report published June 27. The Kaspersky Labs report seeks to answer the question: “But if ransomware no longer wears the threat crown, what is the new king?” According to Kaspersky labs, crypto miners were able to gain popularity due to their “discreet and modest way to make money by exploiting users”: “Instead of the large one-off payout achieved with ransomware, cybercriminals employing mining as a tactic can benefit from an inconspicuous, …