Japan’s Financial Services Agency To Introduce Crypto Wallet Regulation

News, Regulation | November 19, 2018 By:

Japan’s Financial Services Agency (FSA) is planning to introduce regulation for crypto wallet service providers.

During the FSA’s ninth cryptocurrency study group meeting last week, officials discussed regulatory measures for cryptocurrency wallet services, including the maintenance of internal control systems, management of cryptocurrencies belonging to the service providers and customers,

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Japanese Bank MUFG, Brazil’s Banco Bradesco Sign MoU To Develop Blockchain Cross-Border Payment Service

News | November 13, 2018 By:

Japan-based Mitsubishi UFJ Financial Group (MUFG), the world’s fifth-largest financial institution, has partnered with Brazil’s Banco Bradesco to develop a cross-border payments service based on Ripple’s blockchain technology.

The two banks signed a memorandum of understanding (MOU) to create cross-border payments between Japan and Brazil.

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Japanese Banks To Trial Blockchain-Powered Interbank Settlement System

Blockchain, News | October 29, 2018 By:

Japanese IT firm Fujitsu has been selected by the Japanese Bankers Association (JBA) as an application development vendor for a field trial exploring the potential use of JBA’s Collaborative Blockchain Platform.

The Collaborative Blockchain Platform was established by JBA with the goal of generating and sharing knowledge relating to blockchain and distributed ledger technology.

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Japan Seeks To Simplify Crypto Tax Reporting

News | October 19, 2018 By:

The Japanese Tax Commission is looking to adjust the tax filing procedure to stimulate a more thorough reporting of cryptocurrency gains.

During a general assembly meeting on October 17, the commission discussed possible improvements to the complex tax filing regime currently in place in the country.

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Blockchain Advocate Named Japan’s Minister of Science, Technology and IT

Job Appointments | October 5, 2018 By:

Blockchain backer Takuya Hirai has been appointed as Japan’s Minister of Science, Technology, and IT, a cabinet position.

Hirai, one of the composers for the Japanese law legalizing and regulating crypto exchanges, will oversee official government policy towards financial technologies. He was formerly chairperson of the Liberal Democratic Party’s IT Strategy Special Committee,

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