Japan’s Bitcoin Court Case May Create Crypto Millionaires

Roughly $6 billion worth of Bitcoin (BTC) could fall into the hands of thousands of Mt. Gox creditors around the world. It may happen next month when a bankruptcy case in Japan concludes. The Mt. Gox bitcoin exchange case resolution could create a lot of new bitcoin millionaires. That is because a more significant percentage of the 36,800 creditors of Mt. Gox has payout claims in bitcoins. These creditors have been waiting for almost a decade for reimbursement. Japan-based Mt. Gox…

Hack Alert! Japan’s Liquid Global Exchange Loses Almost $100M in Crypto

On Thursday, Tokyo-based Japanese crypto exchange Liquid revealed hackers had compromised it. Liquid did not exactly put up any figure on the amount stolen from the warm wallets. However, Elliptic estimated the hackers made away with about $97 million in digital coins.  The figure included $31 million in ether, $5 million in bitcoin, $13 million in XRP, and stablecoins. $45 million of the amount was in Ethereum tokens. Liquid said that the conversion of the digital assets to ether is underway. This…

Kyrgyzstan Central Bank Set To Regulate Crypto Exchanges

Asian nation Kyrgyzstan is set to license cryptocurrency exchanges operating within the country. According to authorities, this move is to prevent fraudulent activities as the popularity of Bitcoin grows in the country.  Impending Crypto Regulation Tolbunbek Abdygulov, the Chairman of the National Bank of Kyrgyzstan (NBKR), revealed this development on Friday. According to Abdygulov, the Apex bank wants to regulate crypto exchanges and offer licenses to approved platforms. "We plan to grant a license to cryptocurrency exchange operators to buy…

Japanese Messaging giants Line developing CBDC platform

Social messaging platform LINE is set to develop a blockchain platform for Central Banks Digital Currencies (CBDC). Korean paper Chosun reported on Monday that LINE is in discussion with several Asian banks regarding the new development. The blockchain platform would enable the Central bank to launch CBDCs in a safe and scalable environment. Central Banks would also be able to add customizable features on the platform using different economic parameters. LINE has been proactive in its use of blockchain technology.…

5 Countries with the Most Crypto-Friendly Policies

Despite their growing popularity, Bitcoin and other virtual currencies are still not accepted in many states and nations. There are varying levels of ‘crypto-friendliness’ in different countries, which refers to each government’s policy regulations to support (or against) cryptocurrencies. Some, like Ecuador and Bolivia, have banned the use of decentralized currencies altogether. However, others have a more accepting or positive stance towards crypto. These five are some of those countries that are generally crypto-friendly: Malta The small nation of Malta,…

China Is Planning to Introduce a Pan-Asian Digital Currency

China wants to go global over its quest for cryptocurrency predominance as it has proposed a digital currency that would be based on a basket of currencies including the Chinese yuan, Japanese yen, South Korean won and Hong Kong dollar. The proposed pan-Asian digital currency is planned by the private-sector to rival Facebook’s Libra and challenge the USD’s supremacy. A report by the Nikkei Asian Review on June 14 noted that the proposed digital currency is backed by China. The plan to create an…

Japan’s Finance Minister is Not Interested in Reducing Tax on Cryptocurrency

According to Japan’s Finance Minister Taro Aso, he is not willing to demand the reduction of tax rate on cryptocurrencies in the country to 20 percent due to the difficulty of numerous households investing in digital assets. On June 2, the minister attended a meeting of the House of Councillors Committee on Financial Affairs, and answered a question by Japan Restoration Association member. According to Aso, about 900 trillion yen (8.4 billion USD) of the 1900 trillion yen (17.6 billion USD) financial…

Revised Cryptocurrency Regulations in South Korea to Motivate Aspiring Projects

Currently, things are not so good in Asia’s cryptocurrency space. This is such that BitMEX Japan stopped operating in recent times due to the newly amended cryptocurrency regulations in the Japan Payment Services Act. Likewise, the termination of Bitberry (in South Korea) was because of blockchain industry uncertainties. Singapore's authority brought cryptocurrency under AML rules in February, thereby leading the cryptocurrency payment provider CoinPip to close down. Recently, Min Kim of ICON Foundation (based in South Korea) featured in a podcast. He discussed cryptocurrency…

Cryptocurrency Scammers Leveraging Olympic Games

The emergence of COVID-19 pandemic has disrupted the activities planned for this year, such that there have been postponements worldwide including the Olympic Games which was suppose to hold in Tokyo. The postponement of the Olympic Games has prompted various online scams related to cryptocurrency. This includes emails from alleged members of the International Olympic Committee in which scammers solicit donations from unwary victims. According to a report by Trend Micro on April 30, scammers are soliciting for cryptocurrency donations towards Japanese organizers’…

1 2