Japan
FTX Japan plans to resume withdrawals by 2023: Report
Crypto exchange FTX’s subsidiary in Japan, FTX Japan, reportedly plans to resume withdrawals by the end of 2022. According to a Nov. 21 report from Japan-based news outlet NHK, FTX Japan has been making preparations to resume withdrawals. Japan’s Financial Services Agency, or FSA, requested the exchange suspend business orders on Nov. 10 prior to FTX Group declaring bankruptcy in the United States for more than 130 associated companies, including FTX Japan Holdings, FTX Japan, and FTX Japan Services. On Nov. 11, the FSA announced that it had taken administrative actions against FTX Japan amid reports its parent company was “facing credit uncertainties.” The orders required FTX Japan to suspend over-the-counter derivatives transactions and related margins as well as new deposits from users ...
FTX-owned Liquid exchange pauses all trading after withdrawal halt
Liquid has suspended all trading operations on its platform in line with instructions from FTX Trading, the firm announced on Twitter on Nov. 20. The statement indicates that Liquid exchange paused “all forms of trading” because of the operation of the Chapter 11 process in the Delaware courts. “We have since done so while we assess the situation. We are working through these issues and will endeavor to give a fuller update in due course,” Liquid added. Liquid’s operational halt comes five days after the exchange suspended all withdrawals on its platform, citing compliance with the requirements of voluntary Chapter 11 proceedings. Japan’s Financial Services Agency previously also requested another FTX’s local subsidiary, FTX Japan, to suspend business orders on Nov. 10. As previously repor...
Japan’s Digital Agency launches DAO to explore DAOs and Web3
The Digital Agency of Japan, aimed at harmonizing nationwide initiatives related to digital transformation, has launched a research decentralized autonomous organization, or DAO, targeting Web3. In a Nov. 2 meeting, the Digital Agency said it had established a DAO in an effort to explore the “functions and roles” of DAOs. The group added it would consider the benefits and challenges of granting the DAO legal status in Japan, citing the U.S. state of Wyoming approving similar legislation in July 2021. According to the Digital Agency, it planned to investigate aspects of digital assets and DAOs which could potentially be used for “cross-border crimes that exploit blockchain technology” and threaten user protection. The announcement suggested the agency could conduct a blockchain analysis of ...
JP Morgan executes first DeFi trade on public blockchain
Multinational banking firm JP Morgan has successfully executed its first ever cross-border transaction using decentralized finance (DeFi) on a public blockchain. The trade was facilitated by the Monetary Authority of Singapore’s (MAS) Project Guardian on Nov. 2 — which was established as part of a pilot program to “explore potential decentralized finance (DeFi) applications in wholesale funding markets.” In other words, the pilot was another step into examining how traditional financial institutions can use tokenized assets and DeFi protocols to conduct financial transactions, among other use cases. Singapore’s largest bank — DBS Bank, Tokyo-based banking firm SBI Digital Asset Holdings and business leadership platform Oliver Wyman Forum also took part in the pilot program. The...
Metaverse schooling to help Japanese city combat growing absenteeism
The Japanese city of Toda, Saitama, adopted a metaverse-schooling service to encourage students — especially those staying far away from school — to attend their classes. The metaverse schooling service opted for by the city of Toda allows students to explore the campus and study in virtual classrooms. However, the students must get approval from respective school principals for attendance via metaverse schooling, confirms local media NHK. Government data showed that 244,940 Japanese elementary and junior high school students were absent for at least 30 days in FY 2021. NHK’s report highlighted a fifth grader’s interest in chatting online instead of attending school in person. While the child has not physically attended school in over two years, they shared an interest in...
Crypto exchange Coincheck plans Nasdaq listing in July 2023
Japanese cryptocurrency exchange Coincheck has confirmed plans to pursue a public stock offering in the United States through Nasdaq — a move that would give the company access to the country’s lucrative capital markets. In documents filed with the U.S. Securities and Exchange Commission on Oct. 28, Coincheck’s majority owner, Monex Group, confirmed that it is proceeding with Nasdaq listing procedures through a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV. If all goes according to plan, Coincheck’s Nasdaq listing will take place on July 2, 2023. Coincheck said the SPAC merger would allow the exchange to expand its crypto-asset business and gain direct access to U.S. capital markets. The technology-rich Nasdaq is one of the world’s lar...
Japanese Rapper AKKOGORILLA Talks Becoming Liberated From Biases & Being a Feminist for Billboard Japan Women in Music
Billboard Japan launched its Women in Music initiative this year, following the established example of Billboard’s annual Women in Music issue that has continued since 2007. A series of interviews focusing on women in the Japanese music industry is being released as one of the first projects under Japan’s Women in Music banner, which will encompass multiple projects, including interviews, live performances and panel discussions. Explore Explore See latest videos, charts and news See latest videos, charts and news Japanese rapper AKKOGORILLA, who named her first album released in 2018 GRRRLISM as an homage to the Riot Grrrl movement, coined the word based on her urge to “transcend the image of [a female rapper] representing girls.” The theme of the 34-year-old’s mini-album Magma I rele...
Japanese port city wants to become the Web3 hub for the country
In Japan, the city of Fukuoka is looking towards the future of Web3 in its latest partnership with Astar Japan Labs – the company behind Japan’s leading blockchain, the Astar network. Fukuoka is the country’s second-largest port city and has officially been designated as a National Special Strategic Zone. Now it also plans to become the country’s hub for all things Web3 and crypto. The Astar Japan Labs partnership will allow both entities to work together on new use cases for Web3 technologies. Fukuoka joins more than 45 companies working with Astar, including Microsoft Japan and Amazon Japan. According to the announcement, the city wants to attract global, competitive businesses to the area. Representatives from Astar will regularly visit the city to provide education and new use ca...
Japan is losing its place as the world’s gaming capital because of crypto hostility
A marked hostility toward new and emerging Web3 technologies like cryptocurrencies runs the risk of costing Japan its place as the world’s gaming capital. We’re getting dangerously close to the point of no return, and here’s why. Nobody can be sure where the country’s antagonism to crypto originated or why it still persists even after the nonfungible token (NFT) and crypto “boom” of 2021, which took off in a major global way and prompted officials in the United States and Europe to backtrack on their initial antipathy for the space, finally opening up to regulations. The White House just released its first crypto regulatory framework in September 2022, and the European Parliament Committee followed up in October 2022 by approving the Markets in Crypto-Assets framework, also known as ...
Rising Boy Band THE SUPER FRUIT Featured in Billboard Japan & TikTok’s ‘Next Fire’ October Edition
J-pop boy band THE SUPER FRUIT livestreamed a showcase studio set on Oct. 7 as the featured act of the month on Next Fire, the hybrid program produced by Billboard Japan and TikTok. Next Fire is a show on TikTok Live that highlights the hottest J-pop artists of the moment, based on Billboard Japan’s TikTok Weekly Top 20 chart. The collaborative project streams live performances and pre-recorded interviews by the featured act of the month to give fans an in-depth look at their artistry. The seven members appeared in the studio with the opening music in the background, cheerfully greeting viewers, “Good evening! We are THE SUPER FRUIT!” The group immediately kicked off the set with “Seven Fruits” from the mini album THE SUPER FRUIT, released as a limited edition before the band’s debut...
Ado’s ‘New Genesis’ Extends Record to Six Weeks at No. 1 on Japan Hot 100
Ado’s “New Genesis” holds at No. 1 for the sixth week on the latest Billboard Japan Hot 100, dated Oct. 5, catching up with YOASOBI’s 2020 mega-hit “Yoru ni kakeru” (“Into the Night”) in terms of weeks at No. 1. Explore Explore See latest videos, charts and news See latest videos, charts and news “New Genesis” is still at No. 1 for streaming (8 weeks), video views (6 weeks), and karaoke (5 weeks), and while the track is slowing down overall, the One Piece Film: Red theme still outperforms its rivals in the Japan Hot 100 top 10 with nearly 10,000 total points (9,352). Here’s a list of songs with most weeks at No. 1 on the Japan Hot 100 since its inception in 2008: “Koi” by Gen Hoshino, 11 weeks“Zankyosanka” by Aimer, 9 weeks“Homura” by LiSA, 8 weeks“I LOVE…” by Official HIGE DANdism, 7 week...
Japanese banking giant Nomura launches digital ecosystem VC arm
Nomura, one of the largest investment banks in Japan, has established a venture capital arm aimed at investing in companies focusing on crypto and blockchain. In a Wednesday announcement, Nomura said the business, named Laser Digital, will “provide new value in the area of digital assets” for clients under the Switzerland-based holding company Laser Digital Holdings AG. The investment bank said it chose Switzerland based on its “robust regulatory regime for digital assets and blockchain projects” in addition to potentially recruiting talent. “Staying at the forefront of digital innovation is a key priority for Nomura,” said president and group CEO of Nomura Holdings Kentaro Okuda. Laser Digital’s venture capital product, Laser Venture Capital, will focus on investments including centralize...
