BoJ official says digital yen won’t be used to achieve negative interest rate
The Bank of Japan’s Executive Director announced that the eagerly-awaited digital yen won’t be used to attain negative interest rates. Go to Source Powered by WPeMatico
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Japan’s financial regulators may propose legislation in 2022 restricting stablecoin issuance
The move comes as the Bank of Japan wants to roll out a digital yen CBDC by the end of next year. Go to Source Powered by WPeMatico
Japanese megabanks join consortium launching yen-based digital currency
Private-sector behemoths in Japan are exploring digital currencies as a way to streamline large fund transfers and settlements. Go to Source Powered by WPeMatico
Online Retail Giant Rakuten Allows People to Load Payment App With Cryptocurrencies
The firm Rakuten Inc., often referred to as “the Amazon of Japan,” announced customers can now load up Rakuten Pay accounts with cryptocurrencies like bitcoin, ethereum, and bitcoin cash. In order to commemorate the latest crypto service, Rakuten is also offering bonus points to people leveraging “Rakuten Cash” via crypto assets. Crypto Can Pay for … Read more
New York authorizes first Yen stablecoin operator in the US
Japanese firm GMO will now be able to offer Yen and dollar-pegged stablecoins to the public in New York. Go to Source Powered by WPeMatico
Inflation games: Bitcoin competes with fiat on value but lacks volume
Amid global economic contraction, Bitcoin appears to be gaining momentum against struggling fiat currencies. Go to Source Powered by WPeMatico
Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights Reserves
At its current price per unit, the decentralized cryptocurrency Bitcoin’s market valuation has surpassed the overall value of the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $281 billion). Since the massive global market rout on March 12, bitcoin has risen over 323% since the crypto asset’s $3,600 low in 2020. The price of … Read more
Japanese messaging giant LINE developing CBDC platform
The platform would aid central banks in Asia with developing a central bank digital currency. Go to Source Powered by WPeMatico
China’s Oldest Exchange OKCoin Readies for Move Into Japan
OKCoin, one of the oldest exchanges in China, has secured crypto licensing in Japan Go to Source Powered by WPeMatico
Mt Gox Bitcoins: Trustee Plans to Distribute BTC and BCH, Liquidate Forks Into Cash
On March 24, the Mt Gox creditors’ trustee from Tokyo, Nobuaki Kobayashi, disclosed a newly written rehabilitation plan for claimants looking to access some of the funds they lost in 2013. According to the new plan, Mt Gox claimants will get BTC and BCH assets alongside the possibility of receiving fiat currencies as well. Kobayashi’s … Read more
