Bitcoin 

BitFlyer and Tpoint Japan Team Up to Offer Bitcoin Loyalty Program

Cryptocurrency exchange bitFlyer and technology services company Tpoint Japan announced a new partnership that allows local customers to exchange loyalty program points for Bitcoin (BTC) and earn rewards for paying in crypto. The official press release states: “As part of our mission of ‘Making the world simpler with blockchain’, we will continue to contribute to the further development of a sound virtual currency industry. Tpoint Japan aims to turn their well-known points into ‘Points for people. Points for connecting people and society.’ Participating locations include Bic Camera, Yamada Denki, H.I.S.,…

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Bitcoin 

Japan to Solarize Its Burgeoning Digital Economy, Expert Take

Society is now witnessing the implementation of digital currencies, artificial intelligence (AI) and blockchain technology worldwide. These new digital technologies necessitate very high consumption of electric energy, which is currently produced with coal and fossil fuels that have adverse environmental effects. A global shift toward green energy will require the removal of the technological/infrastructural, financial and regulatory/tax-policy barriers. In this series, we evaluate the tax, digital technology and solar policies (including a space solar power satellite) of the top carbon dioxide-emitting countries. In 2009, Japan — the Land of the…

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Blockchain 

Power Ledger and KEPCO Complete Blockchain Energy Trade Trial in Japan

Australian energy technology company Power Ledger and Japanese Kansai Electric Power Co. (KEPCO) have completed a joint trial of a blockchain-based system for post-FIT (feed-in tariff) surplus power in Osaka. P2P transaction of surplus power In an announcement published on Aug. 12, Power Ledger revealed the test completion of a peer-to-peer system demonstrating benefits for post-FIT surplus power in the Japanese city of Osaka. The system purportedly enabled KEPCO to conduct a p2p transaction of surplus power autonomously and automatically, which included settlements with digital currency. Fumiaki Ishida, KEPCO representative…

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Bitcoin 

Sumitomo and BitFlyer to Build Blockchain Real Estate Platform in Japan

Japanese commercial giant Sumitomo Corporation has partnered with a sister company of local cryptocurrency exchange bitFlyer to launch a blockchain real estate business. As Cointelegraph Japan reported on July 23, bitFlyer Blockchain will develop an umbrella platform for renting real estate, driven by smart contracts on its in-house Miyabi blockchain.  Speaking to local tech news outlet CNET Japan, Yuzo Kano, managing director of bitFlyer Blockchain, added that the aim of the project was to enable rental parties to complete the entire process from a smartphone. “It can greatly simplify the…

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Blockchain 

Japan to Look Into the Impact of Facebook’s Libra Ahead of G7

Japanese authorities are investigating the impact of Facebook’s Libra stablecoin, The New York Times reported on July 12. Per the report, Japanese authorities have set up a working group tasked with investigating the impact of Facebook’s stablecoin on monetary policy and financial stability. The working group will reportedly consist of the Bank of Japan, the Ministry of Finance and the Financial Services Agency and already started meeting this week. The outlet claims that the objective of the newly formed group is to coordinate policies that would address the consequences of…

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Blockchain 

Japan Data Initiative Brings Blockchain Security to 100 Major Businesses

A data-sharing initiative involving one hundred of Japan’s biggest companies will use blockchain for its security, English-language news outlet Nikkei Asian Review reported on June 17. The project, which will commence in spring 2020, aims for participants to share production data in order to enhance overall efficiency. Its controller is the Industrial Value Chain Initiative, an industry organization formed four years ago by manufacturers interested in the Internet of Things (IoT). Among prospective participants are DMG Mori, Mitsubishi Electric and Yaskawa Electric. “Blockchain […] is expected to lower the risk…

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Bitcoin 

Japan Hopes to Set Global Crypto Law Benchmark With Latest Regulatory Update

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…

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Bitcoin 

Japan Officially Approves Bill to Amend National Legislation Governing Crypto Regulation

The Japanese House of Representatives has officially approved a new bill to amend national laws that govern crypto regulation, Cointelegraph Japan reported on May 31. The bill — which had been prepared by Japan’s Financial Services Agency (FSA) and accepted by the House in mid-March of this year — has been passed by a majority in the House of Councilors plenary session, according to an update today on the FSA’s website. The bill seeks to introduce amendments to two national laws that apply to crypto assets — the Act on…

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Blockchain 

Yahoo-Backed Exchange Enters Japan Market Amid Renewed Interest in Crypto

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…

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Blockchain 

Japan to Check Money Laundering Policies of Crypto Exchanges Ahead of FATF Inspection

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…

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