Economy

Japan's Finance Regulator Issues Licenses for 11 Bitcoin Exchanges

Japan's Finance Regulator Issues Licenses for 11 Bitcoin Exchanges”

The Financial Services Agency (FSA) in Japan has put their seal of approval on eleven different cryptocurrency exchanges that facilitate the transfer and exchange of Bitcoin, Ethereum and other digital currencies.

Passed in April, the new law established bitcoin as a legal payment method, and extrapolated security guidelines for cryptocurrency exchanges. Approx $480 mln went missing from the biggest bitcoin exchange in the world that was based in Tokyo while the founder Mark Karpeles chose to terminate services in 2014.

Te get the hands on a license, companies have to obviously fulfill a number of conditions an requirements, as segregation of costumer accounts and very good performing computer systems.

Industry officials say Japan is now one of the world's biggest bitcoin trading hubs as China - by far the largest user of bitcoins until early this year - clamps down on cryptocurrencies.

"With the new regulation, Tokyo aims to balance the need to protect investors with the need to support fintech innovations."

Tokyo's stance is in contrast with those of other regulators in Asia. Additionally, the report stated that Japan was not inclined to ban or halt Initial Coin Offerings, a market that has rocketed in recent months raising billions of dollars in tokenized offerings.

Beijing this month ordered some bitcoin exchanges to shut.

There are still 17 Japanese bitcoin exchanges waiting for the FSA to review their applications for licensure.

On the other hand, 12 firms that had been in the business before the new regulation chose to close down, the FSA said.



Like this

Latest


01 October 2017
Ducks QB Justin Herbert has broken collarbone
Moments after coming off the field in pain, Herbert told OR first-year coach Willie Taggart that he was fine. FOX Sports 1 will be providing the TV coverage while you can turn to FuboTV to watch the game live.

01 October 2017
Trump Tells Tillerson He's 'Wasting His Time' Negotiating With Kim
The Chinese President Xi Jinping noted "a good working relationship and personal friendship" with President Trump. China has banned imports of North Korean coal, iron and lead ore, and seafood since early September.

01 October 2017
Rio Tinto plc (RIO) Rating Reiterated by Royal Bank of Canada
Credit Suisse Group reissued an "outperform" recommendation on stocks of Rio Tinto in a study note on early Tue, Jun 27th. Riverpoint Capital Management Llc sold 281,949 shares as the company's stock declined 9.05% while stock markets rallied.

01 October 2017
Schroder Investment Management Group Sells 24360 Shares of Tractor Supply Company (TSCO)
After posting $1.25 EPS for the previous quarter, Tractor Supply Company's analysts now forecast -45.60 % negative EPS growth. A number of investment brokers have recently updated their price targets on shares of Tractor Supply Company (NASDAQ:TSCO).

01 October 2017
ASML Holding NV (ASML) Holdings Cut by Wells Fargo & Company MN
Citigroup Inc. upgraded ASML Holding N.V. from a "neutral" rating to a "buy" rating in a research note on Wednesday, June 14th. Equities research analysts predict that ASML Holding N.V. will post $5.00 earnings per share for the current fiscal year.

01 October 2017
Trump puts NFL players on notice: Stand for national anthem
On the Miami Dolphins' sideline, three players were on one knee during the singing of "The Star-Spangled Banner". Trump says he began criticizing the players because he has "so many friends that are owners".

01 October 2017
COAS off to Kabul to meet President Ashraf Ghani, others
Speaking at the Asia Society seminar in NY on Wednesday, the minister said the U.S. can not succeed in Afghanistan by waging war. Pakistan won't be "scapegoat" in Afghan war, PM tells UN . "We are not prepared to be anyone's scapegoat", he remarked.

01 October 2017
EPS for Under Armour Inc (UAA) Expected At $0.19
On average, equities research analysts predict that Under Armour will post $0.38 earnings per share for the current fiscal year. According to their observations and findings, the stock could provide a high EPS of $0.22/share and a low EPS of $0.13/share.

01 October 2017
Results: Bonneval wins Underwood Stakes
Baker said he was concerned the track may have been too firm for Bonneval on Sunday. Bonneval is now the equal 2017 Caulfield Cup favourite at $5.50 with Humidor.

01 October 2017
Block Sells 4091 Shares of Comcast Corporation (CMCSA) Stock
After $0.19 actual EPS reported by Belmond Ltd for the previous quarter, Wall Street now forecasts -15.79% negative EPS growth. Balyasny Asset Mgmt Ltd Liability holds 184,717 shares or 0.03% of its portfolio. 11,080 were reported by Zwj Inv Counsel.



Recommended