The Financial Service Authority of Seychelles issued a regulatory warning against Huobi Global Limited, the largest crypto exchange originating from China for allegedly claiming to be functioning under the International Business Company (“IBC”) FSA act 2013. FSA clarified that it had not issued any such operating license to the crypto exchange and never regulated the
BitMex will bar Japanese traders from its platform. In a notice released some few minutes ago, the Seychelles-based cryptocurrency derivatives platform said effective April 30, new traders from Japan will be barred from creating accounts while registered clients won’t be able to place new orders from May 1. This is in response to a new
A recent report from the Japanese financial regulator, Financial Services Agency (FSA) has revealed that that the number of inquiries concerning virtual currencies has dropped from 574 in Q1 2019 to 494 in Q2 2019. Is this data indicative of the fact that the hype around cryptocurrencies in declining in one of the most crypto-friendly
Japanese Financial Service Agency (FSA) is currently considering the application of Line corporation to launch a cryptocurrency exchange. If events turn out positive, Bitmax, as the crypto exchange is called may be launched in Q3 of 2019. Line Corporation is Japan’s most popular messaging app with a user base of around 80 million local users.
Japan is reportedly cracking down hard on crypto exchanges with poor Know Your Customer (KYC) procedures. This move by the Japanese regulator is in response to its forthcoming (FATF) Financial Action Task Force(FATF) review. Japan is Bitter About Its Low FATF Review Reportedly, Japan was awarded the lowest possible ranting for poor Know Your Customer
Japan’s famously conservative financial system is set to receive the biggest shakeup in decades as one of the world’s largest financial institutions is building a blockchain-based consumer network designed to handle a million transactions per second in time for the Tokyo 2020 Olympics. The MIT Technology Review reports that Mitsubishi UFJ Financial Group (MUFG), which
Huobi exchange which has announced the lay off for almost 50 percent of its staff is still profitable. The chief executive of Huobi Global, Livio Weng Xiaoqi claims that the firm’s valuation is profitable every month. Turning Profits Amidst Layoffs and FSA Licencing During an interview, Weng in his Beijing office discusses how Houbi is
In the chaos of approving Bitcoin ETF across crypto space by US regulators, Bloomberg reported that Japan’s Financial Services Agency (FSA) is quite optimistic to approve the proposal. Japan Explores Crypto ETFs An anonymous person in connection to the matter said that regulators in Japan at the moment are considering to step up with ETF