Japan’s SBI Holdings to launch crypto exchange in summer 2018

Japan’s Financial Services Agency (FSA) recently began putting cryptocurrency exchanges under the microscope, causing two to shut down and others to permanently leave the country. While the agency may have had good intentions—to create regulations that would protect consumers—some of their policies were viewed as exaggerated. One financial company is willing to swallow the regulations and has announced that it will open a cryptocurrency exchange sometime this summer.

SBI Holdings, one of the largest financial services companies in Japan, will launch its SBI Virtual Currencies exchange, allowing investors to trade in Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), and BTC. The company’s president, Yoshitaka Kitao, anticipates using BCH as the settlement currency, given the fact that BTC is expensive and “tiring as a settlement currency.” Kitao added that the exchange’s remittance currency would be XRP.

The official launch date has yet to be announced; however, Kitao said, “When we do it, it will be number one in the blink of an eye so quickly, so even if a tremendous number of customers come, we can build a system that can bear. [sic] We have to pursue safety thoroughly.” The exchange comes after SBI initially announced plans for the SBI Virtual Currencies platform about a year and a half ago. In December, SBI said that it would be partnering with BTC trading platform Huobi and expected the exchange to be ready at some point early this year.

Following the FSA’s crackdown on cryptocurrency exchanges, SBI was forced to delay the launch once more as it worked on ensuring that the platform would function in accordance with the new regulations.

SBI was established in 1999 and has several business entities. It is involved in Financial Services, Asset Management, biotechnology-related research and development and a wellness bank. The company reported revenue of just over $3 million for its latest fiscal year ending in March, representing an increase of just under $700,000 from the previous fiscal year.

Two months ago, SBI purchased 40% of cryptocurrency hardware wallet company, CoolBitX, out of Taiwan. The wallet company’s main product is the CoolWallet, which has the ability to interact with other devices over Bluetooth.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

8 crypto exchanges leaving Japan, 100 more to come

Japan’s financial regulator, the Financial Services Agency (FSA), has confirmed reports that as many as eight cryptocurrency exchanges have expressed their intention to leave the Japanese market.

The news follows from a meeting held by the regulator last week, which was also attended by representatives from the Ministry of Justice, the Bank of Japan, the Ministry of Finance and the Consumer Affairs Agency, amongst others.

Following changes in licensing for cryptocurrency exchanges in Japan, the FSA confirmed that a number of “deemed dealers” has announced their intention to end their applications for cryptocurrency exchange operations.

Of the eight, according to the FSA, one company now believes it no longer falls within the scope of the licensing requirements, with the remaining seven no longer interested in progressing with their applications.

“Eight deemed virtual currency exchange companies announce the intention to withdraw registration applications…One company confirms that it does not fall under the virtual currency exchange industry as a result of grasping the actual situation in detail,” according to the regulator.

The seven are Mr. Exchange, Campfire, Bit Station, BitExpress, Tokyo Gateway, Raimu, and Payward Japan. Debit completes the eight, as the company that now no longer requires a license from the regulator.

The development comes at a time of flux for cryptocurrency businesses in Japan, following government attempts to tighten up regulation there.

However, despite the increased hurdles to operating crypto exchanges in the country, the FSA revealed as many as 100 new entrants are poised to begin their own applications.

Amongst them is CyberAgent, one of Japan’s leading online TV and advertising platforms, which had flirted with plans for its own cryptocurrency in the past. Its move towards a cryptocurrency exchange comes through its subsidiary, CyberAgent Bitcoin.

However, noting the risks, especially following on from the hack of Coincheck, the firm’s CEO Susumu Fujita was quoted by Itmedia saying the path towards accreditation would be a slow one.

“There are risks that we should not undertake when compared with other projects. Entry is slow in the first place. The examination by the Financial Services Agency is becoming severe,” Fujita said.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

Japan pushes exchanges to drop altcoins favored by criminals

What do Monero (XMR), Dash (DASH) and Zcash (ZEC) all have in common? Apart from being rising altcoins, they’re three cryptocurrencies being targeted for removal from Japan’s cryptocurrency exchanges. That is, if the Financial Services Agency (FSA) has its way.

The FSA has quietly begun to put pressure on crypto exchanges to remove the digital currencies, assumed to be favorites for individuals looking for ways to launder money and to participate in other criminal activities. The FSA has begun to take measures designed to discourage trading on the exchanges of the altcoin. The decision comes, in part, following a report by Europol last September that highlighted the tokens as the favorites among the filchers.

The seedy underbelly of the cryptocurrency world is said to target the altcoins because they’re less traceable than others, such as Bitcoin (BTC). Many have accused the entire cryptocurrency industry as being a haven for criminal activity, a hypothesis that has been shot down by hard evidence.

The FSA asserts that it is virtually impossible to identify the source and destination information of transactions conducted over the altcoins’ blockchains, making them perfect for nefarious activities. Unlike BTC with its public ledger, they argue, investigators can’t follow the virtual paper trail in transactions conducted over several other blockchains. The agency points out that cyber criminals are increasingly turning to the altcoins when they conduct illegal sales or demand ransom payments.

Japan’s Coincheck cryptocurrency exchange was hacked on January 26, resulting in operations being suspended temporarily. After Coincheck came back online, it had removed the options to trade in XMR, DASH and ZEC by March. The FSA has warned that, while the coins aren’t prohibited, dealing in them could result in license applications being denied.

Following the January hack, which resulted in the loss of $534 million in cryptocurrency, the FSA cracked down on exchanges and implemented more stringent regulations. It ordered two cryptocurrency exchanges to shut down in March, and issued “business improvement orders” to five more.

BTC has been legal tender in the country since April of last year, but the move by the FSA this year has hampered future growth. Several exchanges and blockchain companies have already left the country; with others announcing that they were exploring their options.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

Softbank looks to reduce carbon emissions through blockchain

Blockchains continue to impress. The technology is being used in a number of important applications around the world, and there doesn’t seem to be an end to its versatility. This will be a strong component of the future success of both blockchains and cryptocurrencies, and eventually there will be a time that blockchains are an integral part of everyday business.

The latest example of blockchain’s adaptability comes by way of Japan. An energy trading startup, Power Sharing, is joining forces with Tokyo Electric Power Company and the financial house Softbank to launch a blockchain-based pilot program that will increase renewable energy usage in the rural areas of the country. The program is backed by the Ministry of the Environment, and could be a strong competitor to traditional energy buy-back programs which are cumbersome to manage and more difficult to implement.

The project will be led by Power Sharing, with Softbank providing authentication oversight. The bank will provide analysis on the critical components, like “who, what, when, where, how much.”  That information will then be submitted to the blockchain where it will be transacted and recorded.

The idea is to push awareness of renewable energy in the country, especially to the rural areas. It will incentivize residents to make the switch away from traditional sources, and to sell back any excess capacity to the system. The program doesn’t yet have an official launch date, but it is expected to be ready sometime in June.

Power Sharing was founded in June 2017 for the sole purpose of giving individuals and businesses the ability to buy and sell excess energy. The company hopes to drastically reduce Japan’s carbon footprint and increase usage of renewable energy around the country. According to the company’s website, “For those people who act imaginatively and actively without being constrained by established concepts, we want to design a future power environment.”

The concept is a great one, but Power Sharing isn’t the first to offer an energy buy-back solution. IBM is exploring the use of blockchain in China to help energy-intensive corporations reduce their emissions and trade their CO2 quotas to combat the high levels of air pollution in the country.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

Kraken announces withdrawal from Japan

Cryptocurrency exchange giant Kraken is closing operations in Japan, citing increasing costs as the decisive factor behind the move.

Kraken is shutting down “all of its services” in Japan by June, leaving only a matter of weeks before the company ceases to operate within the Japanese market, Bloomberg reported. The decision has been attributed to rising commercial costs, and in particular the rising costs of compliance for cryptocurrency businesses.

However, Kraken left open the possibility of a return at a future date, should conditions become more favourable.

In a statement, Kraken said the decision will allow them to improve services in other markets, and will not preclude non-domiciled Japanese people or companies from accessing their services:

“Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas. This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.”

The news comes as the latest blow to the Japanese cryptocurrency sector, following increasing regulatory efforts. The Financial Services Agency (FSA) has been increasing its level of scrutiny over exchange businesses operating within Japan, in addition to the current licensing scheme.

Following the recent high-profile NEM token theft from Coincheck in January, and concerns from SBI Virtual Currencies over cyber security that saw them postponing the launch of their new venture in Japan, authorities are continuing to increase their scrutiny of cryptocurrency exchanges in the country.

Yet despite recent setbacks, Japan remains one of the most cryptocurrency-friendly in the region, and the wider world. Even this month, new regulations have been proposed which would legalise initial coin offerings, as well as providing a new regulatory regime for ICOs there.

As one of the world’s biggest cryptocurrency exchanges, Kraken’s withdrawal from Japan will be a significant loss, specifically to SegWit-Core BTC (also referred to as Bitcoin legacy or Core) and Ethereum community there.

The news comes a matter of days after Yahoo Japan announced its intention to take a 40% stake in cryptocurrency exchange BitARG.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Japan says no plans for central bank-issued cryptocurrency

Bank of Japan’s deputy governor likens it to allowing private individuals to each have an account with the central bank.

In his closing remarks at the conference with the International Monetary Fund and Japan’s Financial Services Agency on Monday, Bank of Japan’s deputy governor Masayoshi Amamiya says there are currently no plans for a central bank-issued digital currency.

Acknowledging the far leap financial technology has made since only a decade ago, Amamiya says recent developments are calling for a reassessment of the central bank’s role in supporting new financial instruments.

“These issues also stimulate global discussions on to what extent central banks should provide their payment and settlement infrastructures to society. I would like to elaborate on these issues further,” he said.

He goes on to explain what implications a central bank-issued digital currency would entail—something that will substantially disrupt the current two-tiered banking system. The current infrastructure is structured so that it is regulated overall by a central bank, which only deals with the second tier—private banks, who in turn deal with individual consumers.

“The modern currency system, which consists of a central bank and private banks, is characterized as ‘a two-tiered system,’” Amamiya said.

Creating a central bank-issued digital currency, according to him, will change that infrastructure into one where intermediating private banks are taken out of the equation, and consumers are directly under the central bank’s wing.

“In this regard, the issuance of central bank digital currencies for general use could be analogous to allowing households and firms to directly have accounts in the central bank. This may have a large impact on the aforementioned two-tiered currency system and private banks’ financial intermediation,” he said.

“Under the current system, the central bank allows direct access to its accounts only to a limited number of entities such as private banks.”

Such a restructure warrants a deeper understanding of the new terrain, he said.

“To sum up, IT innovation raises many fundamental questions and challenges related to the currency system, the design of central bank infrastructure and the utilization of information attached to economic activities. I sincerely hope our understanding of these issues will be further deepened in the future.”

To further understand the implications of blockchain technology, Amamiya said that the central bank has launched projects specifically for that purpose, adding that the Bank of Japan has no plans of creating its own digital currency but may apply the technology in its own infrastructure later on.

“In 2016 the Bank established its ‘FinTech Center.’ The Bank has also been conducting a joint research project called ‘Project Stella’ with the European Central Bank to study the potential of distributed 4 ledger technology. Although the Bank of Japan does not have a plan to issue its own digital currency at this juncture, the Bank fully acknowledges the importance of deeply understanding innovative technologies not only for maintaining financial stability but also for seeking the possibility of applying them to central bank infrastructure in the future. Central banks should always be attentive to on-going innovation, and continue making efforts to provide the best infrastructure to society in accordance with the development of technologies,” he explained.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

BitFlyer makes changes to strengthen identity verification

BitFlyer, the largest cryptocurrency exchanges in Japan, has denied reports concerning the identity verification process in its platform. BitFlyer is among the four exchanges granted Bitlicense by New York State Department of Financial Services (NYPFS), along with Coinbase, Circle and Ripple.

Last week, a Nikkei report claimed that BitFlyer had made it easy for customers to start trading after submitting copies of their identity cards. According to the report, users were able to trade on the Bitflyer platform after 24 hours of opening an account. This seemed to attract many individuals, as they did not have to wait for about 3 weeks to start using their accounts.

On its website, BitFlyer provides a list of documentation needed for the verification process. These include a passport, government-issued Identity Card for proof of identity and credit card statement, utility bills, or government issued documents for proof of address. This, however, was not being followed, according to the report.

Based on Nikkei’s report, Japan’s Financial Service Agency (FSA) raised concerns about BitFlyer’s verification process. The law in Japan requires customers to email all verification documents to the exchange involved as part of Know-Your-Customer (KYC) requirements. FSA believes that criminals from money laundering and terrorism-related activities could use the platform to support their activities.

Bityflyer denied the reports in a statement: “We provide services only when we can confirm the agreement of the materials…if there is an error or inadequacy, service provision will not start. Also, in the event that the address is found unknown, the sale and purchase transaction is limited immediately.”

The Japanese cryptocurrency exchange also stated that it is fully compliant with the set regulations, noting that it is working with FSA to help strengthen their verification systems.

After last week’s reports, Bitflyer said it would be making new changes to strengthen the verification process on its platform. In the announcement, traders will not be able to make cryptocurrency deposit or fiat withdrawals without having completed the verification process. These changes will be effective starting from April 26. Users will also need to get a postal letter from BitFlyer as part of the identity verification process. In their statement, the changes will also affect clients that use bitcoin to pay for goods using their platform.

This year, FSA has undertaken exercises to make sure all the exchanges comply to set regulations. From the 16 exchanges investigated by FSA, only GMO Coin and Tech Bureau have received business improvement orders. Last week, FSA ordered Blue Dream, a trading platform In Japan to stop its operations until June 10. The platform was still in the process of registration before the suspension.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Top names in crypto space toast to Bitcoin BCH in nChain exclusive party

Blockchain technology research and development specialist nChain Group gathered the brilliant minds of cryptocurrency as well as supporters of Bitcoin Cash in Tokyo, Japan, recently for an exclusive dinner party.

The group who were in town for the Satoshi’s Vision Conference, which was organized by Bitcoin Unlimited, were composed of the top names and thought leaders within the cryptocurrency space. nChain Group’s very own Chief Scientist Dr. Craig Steven Wright was in attendance together with Bitcoin.com CEO  Roger Ver and CoinGeek owner Calvin Ayre.

The night was also a celebration of the synergy and collaboration among Bitcoin groups who continue to work for the growth and development of Bitcoin Cash, the only Bitcoin that remains true to the Satoshi Nakamoto white paper.

nChain Group CEO Jimmy Nguyen thanked  the guests for supporting Satoshi Nakamoto’s vision for Bitcoin and proposed a toast to the thriving Bitcoin Cash.

Incidentally, Nguyen will also serve as the host of the upcoming CoinGeek Conference on May 18. The one-day event will take place at the Four Seasons Hotel in Hong Kong, featuring presentations and panel discussions by focusing on merchant adoption as well as the integration of Bitcoin Cash and blockchain technology into various areas of businesses.

The upcoming conference, which is also hosting an after-party courtesy of CoinGeek.com owner Calvin Ayre, is shaping up to be a landmark in merchant adoption and education in the benefits of Bitcoin BCH, which features bigger blocks, faster speed, and lower transaction fees.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/top-names-crypto-space-toast-bitcoin-bch-nchain-exclusive-party-video/

Dr. Craig Wright: With Bitcoin, the power is within

Sorry Raspberry Pi users, your tiny computers aren’t enough to handle a full Bitcoin node.

At the recently held Satoshi’s Vision conference in Tokyo, Japan, Dr. Craig Wright explained how network topology works, and, in the process, debunked the notion that an outfitted Raspberry Pi can be used as a full Bitcoin node.

The nChain chief scientist prefaced his presentation, “Bitcoin network topology: Small world vs mesh,” by saying that the key to understanding connectivity and Bitcoin is to bear in mind that Bitcoin is incentivized. Bitcoin, he said, is “actually very close to a biological system,” where nodes aren’t the important part—the connections are.

“With Bitcoin, the power is within. The code is rich enough. The network is strong enough. We don’t need to do half the things people tell us we need to do. We don’t need to rebuild it, we don’t need to change it, we don’t need to bastardize it. Bitcoin is powerful right now,” Wright said.

So where do the Raspberry Pis fit in? Nowhere. Miners, after all, are incentivized to process a transaction on the network, and a Raspberry Pi does not have enough processing power, memory and network bandwidth to maintain it all, according to Wright.

“If you have to open up many, many connections, your machine grinds to a halt and it becomes slower. So all those Raspberry Pis out there end up slower, they take 30 seconds, 40 seconds to transmit a transaction. And as you send that transaction, it hits all the miners, and all the miners have that transaction in 1-3 seconds, and it can get faster than that as well. By the time any Raspberry Pi decides that’s a valid transaction, the miners have either accepted or rejected it,” Wright said, “because miners are incentivized to connect to miners. Every second matters to a miner. Every second, if you can mine one second faster, verify one second faster, get a block out one second faster, you make money. Making money makes people want to do this. We use greed for good. This is what Bitcoin does. Bitcoin is not a system of cryptographic protocols, it uses them. It is an incentive system. You can’t cheat the system because if you do, you lose money. That’s what it’s about.”

Watch Dr. Craig Wright’s “Bitcoin network topology: Small world vs mesh” presentation here:

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/dr-craig-wright-bitcoin-power-within-video/

Monex Group eyes majority stake in Tokyo-based Coincheck

Some good news is on the horizon for Coincheck investors who were resigned to the fact that they had lost all their money after the Tokyo-based exchange had been hacked in January. According to Nikkei Asian Review, online broker Monex Group has offered to take over the beleaguered Japanese.

Sources familiar with the matter told the news outlet that Monex has offered an amount believing to run into “billions of yen for a majority stake” in the exchange. Monex is also reportedly looking to put a new management team in place to ensure that no more hacks or similar problems occur in the future. This is crucial if Coincheck is to regain some semblance of credibility after the hack which severely damaged its reputation, let alone that of its investors who ended up severely short changed in the process.

Coincheck was in dire straits last January when it announced that a staggering $530 million were stolen from its coffers in what could be termed as the biggest hack of cryptocurrency in the history of the industry. Coincheck was looking for the support of a strategic partner to help it get out of the mess. The deal is expected to be announced by early next week, according to the news outlet.

The possible takeover by Monex had a positive effect on the crypto world as prices jumped across all currencies, with legacy Bitcoin (BTC) reaching well over $7,300 following the announcement. Shares of Monex also jumped at the news rising by a staggering 23% on the Tokyo Stock Exchange. Apparently the news that a major player in the cryptocurrency space is back in business was received positively by shareholders and investors alike.

The rescue operation was welcome news after an investigation by the Japanese Financial Services Agency had ordered Coincheck to conduct a major overhaul of its operations, which included asset protection for its clients as well as the implementation of anti-money laundering measures. The beleaguered exchange, however, could not go ahead with such improvements without the support of an external source which it has now found in.

Coincheck founder Koichiro Wada as well as chief operating officer Yusuke Otsuka are expected to step down once Monex takes control, though they will apparently remain as shareholders, according to the report. Monex will appoint a new president and other executives after the transition takes place.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/monex-group-eyes-majority-stake-tokyo-based-coincheck/

CoinGeek takes Tokyo by storm to celebrate Satoshi’s Vision

CoinGeek.com, the cryptocurrency news site founded by Antiguan entrepreneur Calvin Ayre, recently flew to Japan for the Satoshi’s Vision conference and threw a party for its attendees.

With a fabulous view of the city lights at the heart of Shibuya in Tokyo, conference delegates were treated to a fun networking night, great music and overflowing drinks. Guests from over a dozen countries include big names in the cryptocurrency space, such as nChain CEO Jimmy Nguyen and Chief Scientist Dr. Craig Wright, Bitcoin.com CEO Roger Ver, Bitcoin Unlimited President Andrew Clifford, and Bitcoin ABC lead developer Amaury Séchet.

The networking night paved the way for the delegates to discuss the latest trends as well as developments the Bitcoin community has been working on. It also became an avenue for more entrepreneurs and investors to meet and explore the possibility of changing the world through the integration of Bitcoin Cash into their businesses.

“Finally, we have a Bitcoin party that brings Bitcoin back to what it really was meant to be—currency that you can use, something that you can spend, and the best place to store value,” said Antiguan entrepreneur Calvin Ayre, owner of CoinGeek.com.

The night was just a teaser of what’s going to happen at the CoinGeek Conference in May this year. The one-day event will be held at the Four Seasons Hotel in Hong Kong, featuring presentations and panel discussions focusing on merchant adoption as well as the integration of Bitcoin Cash and blockchain technology into various areas of businesses.

The upcoming conference, which is also hosting an after-party courtesy of CoinGeek.com owner Calvin Ayre, is shaping up to be a landmark in merchant adoption and education in the benefits of Bitcoin BCH.  With its bigger blocks, faster speed, and lower transaction fees, Bitcoin BCH represents the truer vision of Bitcoin as a peer-to-peer electronic cash system.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/coingeek-takes-tokyo-storm-celebrate-satoshis-vision-video/

Yahoo Japan rolls out plans for new cryptocurrency exchange

Yahoo Japan, the Japanese division of global media company Yahoo, has announced its intention to establish a cryptocurrency exchange, according to reports emerging today.

The company is preparing to buy a 40% stake in BitARG Exchange Tokyo, in a move that would see Yahoo Japan embark on the initial development stages of a new exchange, to be developed on existing BitARG technology, Nikkei Asian Review reported.

Analysts have suggested the move could lead to a wider ‘realignment’ in the cryptocurrency exchange space in Japan, with the Yahoo model likely to become a significant operator in the space once a market-ready exchange is ultimately launched.

Yahoo Japan confirms the plans would see development work begin in earnest, with a proposed timeline to launch of April 2019 at the earliest. The news follows denials earlier in the week from BitARG that a deal had already been signed.

The agreement will see Yahoo Japan take a 40% stake in the firm at a cost of around JPY2 billion (US$19 million). The share purchase is to be facilitated through Yahoo’s forex transaction platform YJFX, and looks set to be concluded next month.

BitARG is accredited Japan’s Financial Services Agency, which would enable Yahoo Japan to get more immediate access to the market without working through the licensing process in their own right. It is expected that Yahoo Japan will also provide further investment for the project in the months to come.

Registration is particularly significant in light of the recent warnings issued by the regulator to competing firm Binance, which remains unregulated in Japan. Similarly, this comes at a time of increasingly intense crackdowns from the Japanese financial regulator, which has focused on registration and compliance with local financial and securities laws in recent months.

Upon purchase, Yahoo Japan will send a team from its YJFX division to work on the project, primarily focusing on the development of the exchange, in addition to setting up systems for customer management and corporate governance, according to reports.

While April 2019 has been offered as a target date for launch, Yahoo Japan has already suggested that the timeline is flexible, and reliant on the successful development of the exchange technology.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/yahoo-japan-rolls-plans-new-cryptocurrency-exchange/