Japan

Japanese bank Sumitomo Mitsui launches the country’s first ‘a-1’ rated security token

Japan-based bank Sumitomo Mitsui Trust Bank, or SMTB, has launched its first asset-backed securities token in partnership with Securitize on March 29. The instrument is the first security token compliant with the Financial Instruments and Exchange Act (FIEA) to launch in the Japanese Market. The token has received an “a-1 rating” from Japanese rating agency, …

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Japanese Court Convicts Bitcoin Tax Evader- Trader Gets a Year in Prison Plus Fine for $200K

<div class=”featured_image_container”> </div> <strong>Japanese authorities aren’t hesitating in hunting down anyone considered a crypto tax evader. A court in Ishikawa has sentenced one of them, a 56-year-old man that will spend one year in prison, plus pay a $200,000 fine.</strong> Sentenced Man Didn’t Disclose His BTC Trading Activity of the Period 2017-2018 According to Chunichi, …

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SBI Holdings subsidiary continues XRP benefit program

Morningstar, a financial information services subsidiary of Japanese financial giant SBI Group, will continue its XRP shareholder benefits program. According to an official announcement Friday, Morningstar has approved year-end shareholder benefits in the form of XRP. The new dividend payout option comes as part of the company’s year-end reward program to thank its shareholders for …

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Ripple’s Asia Pacific Business Flourishing Despite SEC Lawsuit, Says CEO

<div class=”featured_image_container”> </div> <strong>Ripple chief executive officer Brad Garlinghouse said Friday that the company’s business in the Asia-Pacific region has not suffered from the ongoing regulatory issues in the U.S.</strong> Ripple’s Business in Asia and Japan Sees Growth Ripple is facing a $1.3 billion lawsuit from the U.S. Securities and Exchange Commission (SEC). In December, …

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Report: Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’

<div class=”featured_image_container”> </div> <strong>Recently, Messari Crypto Researcher, Mira Christanto published a report that looks into Asia’s cryptocurrency landscape in-depth, as 60% of the world’s population resides in the region. Christanto’s study shows that six out of the top ten largest cryptocurrency unicorns are located in Asia. Moreover, 98% of ethereum-based futures and 94% of bitcoin …

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Japanese Authorities Say the Majority of People Involved in Coincheck’s 2018 Hack Are Individuals With ‘High Social Status’

<div class=”featured_image_container”> </div> <strong>More details keep appearing from the police investigation into the 2018 Coincheck hack that stole $530 million from the crypto exchange. Japanese authorities revealed that most of the individuals involved have a “high social status.”</strong> One of the Individuals Took Part in a NEM Swap Deal Is Worth $64 Million According to …

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Thailand Authorities Are Targeting Japanese Crypto Holders to Boost Tourism

<div class=”featured_image_container”> </div> <strong>Thailand seems to be interested in catching Japanese crypto holders’ attention via tourism. The country wants to establish a crypto-friendly touristic hotspot and the first targeted country is the nation of the rising sun.</strong> Program Aims to Add New Segments With ‘High Spending’ Per Bangkok Post, the Tourism Authority of Thailand (TAT) …

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SBI looking to set up joint crypto ventures with foreign firms

Japanese financial conglomerate SBI Holdings is reportedly planning to set up a joint cryptocurrency venture with foreign financial companies. SBI CEO Yoshitaka Kitao said that the Japanese company is in talks with other financial firms to launch a crypto venture, Reuters reports Feb. 15. The executive said that SBI currently has two potential deals. As …

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Finance giant SBI expands cryptocurrency lending service to XRP

Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade. According to a Feb. 4 announcement, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the lending period lasting up to 84 days. “VC Trade Lending is …

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All Over the World, Small Investors Jump Into the GameStop Frenzy

The world is watching U.S. markets with great interest, and more than a little FOMO, as Reddit investors continue to test their might against Wall Street. It all started when retail investors on the Reddit community wallstreetbets began pumping the price of U.S. video game retailer GameStop’s (GME) stock to counter Wall Street hedge funds …

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