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japan Virtual Currency Exchange Provider’s License
As of April 1, 2017, the amended Payment Services Act came into effect and as of that moment operators of Virtual Currency exchange business are required to be registered with the japanese Financial Services Agency.Timeframe: Company formation - within 8 weeks License application - within 6 months Minimum capital requirement: 10 000 000 JPY (approx. EUR 75 000) + Registrat...
Path: LicensingLocal cryptocurrency could soon be used in japanese regions
**Two japanese companies have been cooperating for two years on local cryptocurrency and now are launching a trial of a local digital coin.** Mitsubishi Research Institute and Kintetsu Shimakaze railway company introduced a new regional digital currency for use in Mie Prefecture - a famous tourist area. **The newly introduced cryptocurrency will be available for use from November 11 to Januar...
Path: Blogjapan to Tighten Crypto Rules for Preventing Sanctions Evasion
japan Implement Stricter Crypto Rules in Order of Sanctions Evasion Prevention. - Legislation updates are initiated by the Russia-Ukraine war conflict. - In case crypto exchanges suspect unauthorized transactions, they are obliged to notify the FSA. The government of japan is to tighten rules on cryptocurrency exchanges, as the country announced intentions to update its Foreign Exchange an...
Path: Blogjapanese Financial Services Agency is discussing to impose stricter Crypto Laws
**The aim is to begin the use of new rules by mid-2022.** Financial Services Agency (FSA) of japan has begun taking steps towards strengthening cryptocurrency regulation, aiming to provide better protection to the local investors. Due to local media outlet ‘Jiji Press’ report, debates on the new crypto laws are already initiated by japanese authorities. It is planned to develop risky digi...
Path: Blogjapan and South Africa are to set new crypto regulations
**Two of worlds global economic giants, japan and South Africa, are to set new crypto regulations in the scope of recent activities and scandals within the cryptocurrency market.** **japan works on both regulatory and diplomatic levels to introduce Crypto Regulations.** In terms of introducing crypto regulations, Financial Services Agency (FSA), japan’s financial watchdog, has recently e...
Path: Blogjapanese Officials Introduce New Amendments in japan’s Crypto Laws
Last year two of legislation were passed by the japanese House of Representatives - The Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA), as a result japan will be enforcing new cryptocurrency- related regulation. Originally new legislations were scheduled to come into effect in April, but due to a COVID-19 pandemic delay the final enforcement date has been offi...
Path: Blogjapan Exchange Regulation and Tokyo Stock Exchange Implementing AI Solutions
Using **artificial intelligence** is gaining popularity in developed economies as a tool to **prevent market abuse.** Last week, global market players - **japan Exchange Regulation (JPX-R)** and **Tokyo Stock Exchange, Inc. (TSE)**, went public about adding **AI Solutions** to market supervision tools. In this case, usage of AI implies creating and developing surveillance systems for the trad...
Path: Blogjapan's Financial Services Agency is ready to approve crypto exchange-traded funds (ETFs)
At the moment the Financial Services Agency (FSA) of japan is estimating the industry’s interest in ETFs (exchange-traded funds) tracking cryptocurrencies. Liberal Democratic Party, **japan’s main ruling party, is planning to submit a draft law by March 2019, that, among other things, can potentially include changes to existing financial rules regarding cryptocurrency**. The above-mention...
Path: BlogAustralia adopted a new product intervention law
...plemented at the beginning of 2021.** The ASIC is now empowered to contemplate what kind of restrictions it will impose on the market participants. The changes caused by the new regulatory framework are similar to those already adopted in the EU, japan, and the US. Taking into account the move of retail forex traders from Europe to Australia, there is a high chance of regulatory harmonization a...
Path: BlogCrypto aspirations: North Korea is holding cryptocurrency conferences
...on pre-approval, of course). As the conference is international, restrictions have been softened: internet access will be available, digital devices will be allowed and even the US citizens are welcome. Although not without exceptions, citizens from japan, South Korea, and Israel will not be admitted. Alejandro Cao de Benós, the president of the Spanish Korean Friendship Association that organ...
Path: BlogSingapore authorities are planning to support crypto startups with receiving banking services
.... He also said: *"I hope we can bring minds together on this so that we can get over this hurdle."* As was stated in MAS report the central bank, at this moment has no object to employ a licensing mechanism for crypto exchanges, unlike its japanese counterpart has done – granting licenses to 16 japanese exchanges in order to help them obtain banking services. Stay tuned with **Offsh...
Path: BlogCambodia will launch a central bank digital currency
... that will serve as the national payment gateway for Cambodia.** Based on the blockchain technology, a peer-to-peer platform with its own digital currency will be launched in the coming months. Bakong central digital currency was designed by the japanese blockchain company. The company Soramitsu has developed a system that supports any type and number of currencies, including crypto. As ex...
Path: BlogIs Accepting Bitcoin a Reasonable Choice for Banks?
... in the world, claims that some governments are ready to create their own currencies to meet the demands of evolving innovations. Not only the Citigroup speaks positively about the Bitcoin, but also other major banks in countries like China, Russia, japan and others. They already suppose that blockchain technology and cryptocurrencies can solve many problems with trans-border transactions, fund op...
Path: BlogAttempts to Unify Cryptocurrency Regulation and Introduction of the Travel Rule
...nt token” services — which includes both crypto businesses and exchanges — to comply with FATF-ready AML rules. Additionally, to adapt FATF directive requirements, Singapore set its Travel rule threshold at around $1000 (SG $1,500). In 2017 japan started acknowledging Bitcoin and its crypto derivatives as property within japan’s Payment Services Act. In addition, Payment Services Act ca...
Path: BlogLeading Russian banks intend to work with crypto
...r has grown significantly, but the banks are unable to meet it due to the lack of regulations. Considering the above-mentioned, the representatives of the Russian banking organizations present at the meeting have communicated with regulators from japan, Luxembourg and Singapore in order to apply their experience to local realities. Additionally, a lobby group was formed with an aim to approach ...
Path: BlogToo old for trading
We all know that approaches to investors protection in japan and Europe are absolutely different. European brokers pay a lot of attention to the professional skills of their clients, the other aspects like age, gender remains untouched. While European Securities and Markets Authority (ESMA) banned certain products and imposed restriction on leverage, the **japanese government has focused on the ...
Path: BlogCuba is up to define Crypto Regulation Guidelines
...country amid financial restrictions. Our editorial office continues to keep an eye out on crypto-regulations all over the world and our improvised cycle of articles on this topic continues – Cuba is following the likes of Tanzania, El-Salvador, japan and South-Africa – all of those countries are paying attention to crypto-currencies and are working hard in order to develop the respective le...
Path: BlogCIMB Bank Account Opening
CIMB Group Holdings Berhad is a Malaysian universal bank, headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank, the largest Asia Pacific (ex-japan) based investment bank and one of the world's largest Islamic banks. CIMB has a wide retail branch network with 1,080 branches across the region.Account opening: 7-14 working d...
Path: BanksCIMB Bank Account Opening
CIMB Group Holdings Berhad is a Malaysian universal bank, headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank, the largest Asia Pacific (ex-japan) based investment bank and one of the world's largest Islamic banks. CIMB has a wide retail branch network with 1,080 branches across the region.Account opening: 7-14 working d...
Path: Banks“To trade or not to trade?” or How Chinese Exchanges Overcome the Bitcoin Ban?
...e of the centers for crypto-enthusiasts. What is happening now and what are the perspectives? After the **Bitcoin exchanges ban**, the most valuable market players shut down and pushed China far back on the world’s Bitcoin community. Meanwhile, japan implemented regulations that are much more favorable for traders and overtook the market with 44% part of the market share. Some analysts state ...
Path: BlogHong Kong Limited Company Formation
...ial basis. Many countries levy corporate income tax on a different basis and they tax the world-wide profits of a business, which includes profits derived from activities outside of the country. Unlike other Asian countries such as japan, Korea, Thailand, India and China; Hong Kong does not have any exchange or capital controls which therefore allow funds to flow freely in and ou...
Path: CompaniesHong Kong Type 9 (Asset Management) License
... from another place, is not required to pay tax in Hong Kong on those profits Double Taxation Agreements: Hong Kong has comprehensive double tax agreements with Austria, Belgium, Brunei, Canada, Czech Republic, France, Hungary, Indonesia, Ireland, japan, Jersey, Kuwait, Liechtenstein, Luxembourg, Malaysia, Malta, Mexico, Netherlands, New Zealand, Portugal, Switzerland, Spain, Thailand, United Ki...
Path: Licensing