FTX Japan Permits Full Fund Withdrawals
Users of FTX Japan have begun withdrawing all of their monies as the litigation between FTX and SBF waits patiently for a resolution. As Changpeng Zhao, the CEO of Binance, indicated the cryptocurrency exchange would liquidate its sizeable holdings of FTX Token (FTT $1.51), the crypto platform delayed fund withdrawals on November 7, 2022. On […]
BoJ to launch CBDC pilot in April
The Bank of Japan (BoJ) is set to start its central bank digital currency (CBDC) pilot in April 2023. The trial intends to include commercial companies and explore a CBDC ecosystem model. The Bank of Japan (BoJ) made executive director Shinichi Uchida’s opening remarks at a CBDC committee meeting public on February 17. Uchida said […]
Japan to allow stablecoins for trade by June 2023
In the sequel of its plan to lift the ban on foreign stablecoins like USDT, the Financial Service Authority in Japan is expected to approve new legislation by June 2023, which will allow the use of certain stablecoins for trading. According to a local financial body, Japan’s new legislation permitting investors to trade using stablecoins […]
Coinbase shuts down operations in Japan
In the face of extreme market situations, Coinbase crypto exchange has officially halted its operations in Japan. The exchange urges customers to withdraw their crypto and cash assets by February 16. On January 18, Coinbase took the tough choice to thoroughly assess its operations in Japan and to stop all transactions with current clients, according […]
Japan’s FSA set to lift ban on foreign stablecoins in 2023
The Financial Services Agency (FSA) of Japan will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023. Major cryptocurrency regulations relating to the usage of stablecoins like Tether ($USDT $1.00) or USD Coin ($USDC $1.00) are being reexamined by Japanese regulators. According to local news outlet Nikkei, Japan’s Financial Services Agency (FSA) […]