Bitcoin gradually gaining popularity among Japanese spenders

Bic Camera one of the most lucrative electronic good stores has started to accept the Bitcoin in a limited capacity after the Japanese Government put forward new regulations. Bic Camera’s Chief revealed that most of the digital currency spenders in Japan were young males.

The Chief stated that when they setup the digital currency payment system in their stores they believed that most of the customers will be foreigners but this did not turn out to be the case. Bic Camera felt that digital currency is quite a popular choice once they setup the digital currency payment system in their stores.

Once the Japanese Government announced that the Bitcoin was a legal mode of payment Bic Camera felt more comfortable in offering this mode of payment. Currently, the trend is that most of the customers are quite willing to pay in Bitcoin.

Bic Camera noticed this trend when they started to allow the Bitcoin payment in two of their top stores in 2017. When Bic Camera identified the demand of the customers, they decided to accept the bitcoin payment in about 40 of their stores.

Apart from this Bic Camera also conducted a study so that they could identify the potential Bitcoin users. Additionally, the store also asked its cashier to check out the relevant sales records when accepting payment in bitcoin.

The actual trend in Japan is that most of the young males in their early 30’s purchase tablets and digital cameras from Bic Camera and use bitcoin as a mode of payment. The interesting part is that the percentage of bitcoin spenders is gradually increasing with the passage of time. This means that the bitcoin payment trend is bound to last by all means for sure.

At the moment this electronic store is not concerned about the security issues as well and there is a reason behind it. Bic Camera has partnered with Bitflyer which is one of the top digital currency exchanges in Japan.

Bitflyer is an exchange that has been approved by the Financial Service Agency so it does enjoy credibility. This means that all the bitcoin payment processing will be transparent. Moreover, the store will not have to face any issue in processing these payments.

All this shows that people are gradually gaining awareness about the perks of digital currency and this trend is bound to continue for a long time to come. There is also a possibility that more stores may offer digital currency as a mode of payment.

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Upbit rewards users for reporting crypto frauds

Upbit is one of the largest cryptocurrency exchanges at the moment and this platform does promote transparency. This is one of the reasons that this exchange rewarded 6 people who reported crypto related fraudulent schemes.

Way back in March Upbit established a bounty system. The users can easily identify fraudulent activities with the help of this system. This system can easily identify multi-level digital currency scams as well. At the moment Upbit pays about 1 million won to all those who report the digital currency scams.

Once this system was implemented, then about 10 cases have been reported so far. However, the users who wish to receive the reward have to submit the evidence documents as well. The objective of this practice is to create a scam free digital currency ecosystem.

Upbit is also making efforts to improve its digital currency operations. This is one of the reasons that Upbit has created a system by the name of World-Check. The basic objective of World-Check is to support the transparent digital currency operations.

World-Check aims to meet the regulatory requirements. When a user decides to register with Upbit, then the membership data of the user is checked against the data of World-Check. If the system is not satisfied with the user membership data, then the registration of the user is terminated on an immediate basis.

Now, this approach can prove to be quite useful to nip the evil in the bud and eliminate the digital currency scams. Since Upbit has created a very strong system to verify the user information, there are little chances of any fraudulent activities taking place.

The users who want to be associated with Upbit know that they have to provide satisfactory information to the system otherwise their membership will not be acceptable. It is important that other exchanges should also follow in the footsteps of Upbit and provide the same transparency as offered by Upbit.

Apparently, it seems that Upbit will be making more efforts in the near future to improve its security system. This is one of the reason that Upbit has been able to establish its place in the top digital currency exchange list.

One thing can be said for sure that any user who decides to register with Upbit will be buying his peace of mind because the user will not have to worry about the fact that his investment will be on the line.

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Massive developments in the field of digital currency in different parts of the world

Massive progress has been taking place in the field of cryptocurrency. Bitpanda which is currently one of the reputed exchanges in Europe has made big plans and is adding two new coins. These coins are Komodo and Iota. This announcement was made once BitPanda 2.0 was launched.

The team has also promised the fact that new listings will be available on a regular basis. At the moment these two digital currencies will be offered through the trade only buy and sell option. Both the digital currencies are supposed to be added in June 2018.

Bitpanda has also committed to the fact that the variety of the new digital currencies is going to be increased in the near future. Bitpanda mentioned that Iota has been introduced due to the growing demand of the Bitpanda community.

Currently, the Iota foundation and Bitpanda are working in collaboration so that they can introduce the digital currency wallet. This wallet will support the send and withdrawal functions.

Japan is also quite active in the field of digital currency at the moment. Couger is a Japan based startup. It is working on a project to create the Virtual Human Agent. The company is also making use of the blockchain technology for materializing this project.

Couger feels that linking two technologies holds a lot of significance particular the blockchain technology and artificial intelligence. Well, Couger has also decided that it will store the learning records on the blockchain.

Microsoft has also got a lot of plans which can possibility contribute to the development of digital currency. What Microsoft has planned is that is to come up with an underwater data centre. This project is known as Project Natick.

This project is powered by tidal, solar and wind installations. The data centre is created using 864 servers and all these servers are placed in a container. The electricity is supplied to this data centre using an undersea cable.

Microsoft has decided that it will operate Natick for a period of 12 months. The infrastructure of this data centre is such that it will surely require less electricity and maintenance. The servers will initially go through a number of tests so that the power consumption can be evaluated.

What needs to be mentioned here is that the idea of an underwater data centre can be quite useful for digital currency miners and it does offer value to the miners. All these developments show that digital currency is bound to achieve more success in the near future.

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Apple App store redefines digital currency rules

The Apple App store is quite popular among the users. The app store offers about 783,000 gaming apps to the users. Apart from this the app store has about 2.3 million non-gaming apps as well.

Just recently App store made some amendments to the guidelines related to digital currency apps. The guidelines stated that the exchange apps can facilitate the digital currency transmission on approved exchange only and this transmission facility needs to be offered by the exchange.

The mining applications that require an iPhone’s chipset cannot be used for mining. The new rules also state that applications that require currency for completing tasks cannot be used. These tasks may include downloading the applications and posting on other social media networks as well.

Apple Play Store has defined strict rules for applications offering ICO’s as well. The rules state that all the applications that offer ICO’s have to come from approved financial institutions. These rules apply to trading platforms and wallets as well.

What the users need to remember is that Apple’s rules are stricter in comparison to Google Play. This is the reason that these rules need to be followed by all means for sure.

If we look at the past records of Apple App store, then 4 years back all the digital currency related applications were removed. Two years back the Apple App store asked the users to remove all the digital assets like dash from the Apple App Store.

Now, there is a possibility that these rules may affect the applications that currently exist on Apple Play store and the applications that plan to be published on Apple Play Store in the near future. These new rules might sound very frustrating for the digital currency community.

The better approach should be that Apple Play Store should give the reasoning to the users regarding why they have imposed the guidelines. This way the users will be able to understand the situation in a much better way.

Eventually all these rules are meant for the security of the users. There is a possibility that Apple Play Store might bring about some relaxation in these rules provided there is more transparency in the digital currency system.

Ideally, what the user should do is that they should go through the guidelines in detail before opting for any digital currency app. This way the user will not have to deal with any disappointment.

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Coinone Facing Legal Charges

South Korea’s exchange Coinone is currently facing a lot of trouble. The exchange is facing charges at the moment, and these charges are against the margin trading service of this exchange.

Now, this surely spells trouble for Coineone. The reason is that Coinone is considered to be the third largest digital currency exchange after Bithumb and Upbeat. This is why the reputation of this exchange is surely on the line.

At the moment the charges have been launched against the CEO of Coinone and 20 other members. The authorities are of the opinion that the exchange has been providing gambling services. The gambling services are considered to be illegal in South-Korea.

The authorities claim that the exchange allowed the users to trade three to four times more than initial deposit. The authorities also state that exchange charged commission for these transactions. This is why Coinone is under the fire at the moment.

Margin trading is quite similar to the credit trading in the stock market but the margin trading done by Coinone is more gambling oriented. The authorities did their bit of research and found out that about 19,000 Coinone users make use of the margin trading services offered by Coinone.

The users are in the age group of 20 to 50 years. Three of the members were also able to trade more than 3 million won. The Coinone’s stance on the issue is that they have not been a part of any illegal activity. However, the truth is yet to be revealed.

Coinone states that the trading activities that they offer are already available in the market. If we view the picture from Coinone’s perspective, then a lot is on the line for this exchange. It is very essential that the exchange clarifies its position.

The reason is that the charges will prevent the users from opting for this exchange and this will not turn out to be a favourable situation for Coinone. The picture will be clear once the authorities finish up with their research. Till then the users need to be very careful about their investments.

It is important that Coinone should be willing to come up with a satisfying statement against the charges. It seems that the charges are bound to put off many users, and they may become skeptical when opting for the services of the exchange.

This is also a red flag alert for all those exchanges who are currently offering margin trading service similar to Coinone.

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Coinmint Willing To Invest About $700 Million in New York Based Mining Centre

There are new developments in the field of digital currency now and then. The latest news is that Coinmint has got sufficient capacity to operate the biggest mining firm in the entire world.

Now, Coinmint is all set to invest about $700 million in the new site in Massena. The good news is that this development will be able to create more than 150 jobs in just about 18 months. At the moment Coinmint offers low electricity costs and this is why it is all set to compete the in the developing digital currency market.

The New York Power Authority has also approved the allocation of about 15,000 kilowatts of the hydroelectric power for this mining venture. This is bound to boost the employment. The best part is that the Massena site will operate around the clock.

This is one of the reasons that this site will be able to accommodate about 75 employees who will be working on a full-time basis. The job opportunities that will be offered on the site are meant for the operational staff, IT technicians, and electricians.

These workers can look forward to a wage of about $46000. It seems that Massena is all set to welcome Coinmint with open arms. The reason Massena community is willing to welcome Coinmint is that 150 job opportunity is bound to bring prosperity to the area.

The town supervisor also stated the fact that they are willing to provide all the cooperation to Coinmint to make the venture a success. Now, this positive reaction exists because Coinmint investment in Massena is a winning situation for all.

However, Coinmint will have to plan things well so that there are zero chances of failure. It needs to have a fool-proof strategy in hand. If the Massena venture goes well, then this will be yet another milestone in the field of digital currency development.

The positive side of the picture is that Coinmint has all the necessary facilities to make the venture a success. Plus, the job opportunities offered will create a positive perception of digital currency and mining in the mind of people.

For the success of digital currency and mining, it is important that this venture should go well. If the Coinmint venture achieves its milestone, then there is a possibility that other companies will also be encouraged to make massive investments in a similar venture. This will further pave the way for the success of digital currency.

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Digital Currency Community Criticizes the Google Ban on Crypto Currency Ads

Just recently, Google announced that it would ban the digital currency ads on its respective platform. It followed in the footsteps of Facebook that had announced the ban on digital currency ads earlier.

However, the digital currency enthusiasts are not happy with this update, and this ban did receive criticism. Ed Cooper from Revolution stated that this ban had even brought the legitimate digital currency companies under fire. Cooper is of the opinion that due to this ban even the legitimate companies will not be able to advertise their services in Google.

Cooper felt that Google should have adopted a more targeted approach and only banned scam digital currency ads that use search engine platforms as an entry point. Blackmore Group Chief Executive officer is also not happy with this ban on the digital currency ads.

The Chief Executive Officer stated that it is understandable that Google needs to regulate what the users are reading but this ban still spells bad news for genuine digital currency companies. The Chief Executive is of the opinion that there is a possibility that perhaps the platforms want to introduce its digital currency shortly and this could be the reason that they are not entertaining digital currency advertisements.

However, what seems evident is that Google has no plans to introduce its digital currency shortly. What the digital currency community feels is that Google has a lot of commercial power. This is why the ban on the digital currency ads will act as a hurdle for the digital currency companies.

It will obviously become an issue for these companies to market their services. This can hamper the growth of the digital currency in the long-run. If the entire situation is evaluated from Google’s point of view, then they are not wrong in their decision either.

At the moment the digital currency field is still in the process of evolution. Therefore it can become difficult to identify the scammers and the genuine digital currency companies. If scam digital currency ads are displayed on Google, then this can pose a potential risk to the users.

Those users who are new to the field of digital currency trading are more at risk. It seems that Google has taken this step to secure the future of its users. It can be hoped that as the success of digital currency continues; then there is a possibility that Google may think over the ban.

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IMF report: Bitcoin might cause a decline in the demand of the fiat currency

The digital currency is getting its due share of praise. Just recently the International Monetary Fund had a lot of positive things to say about the bitcoin. The IMF has also released a report related to the digital currencies.

The report stated that fact that there is a huge possibility that some of the digital currencies will be widely adopted and will be quite useful in the private e-commerce networks. The report mentioned that there are chances that the digital assets might have a massive impact on the global monetary policies.

The report also stated that there are chances that digital assets might replace the fiat currency in some of the regions. This can have a massive impact on how the money works in this digital age.

There are also chances that the popularity of digital currency can lead to the decline of the central bank demand. The IMF report mentioned that the banks should not give in this situation.

They need to respond to the digital currency with competitive pressure. The report also suggested that it is high-time that the banks should think on the lines of solidifying the fiat currency.

The IMF report mentioned that things have not been quite smooth for the digital currency as well and it had its due share of tough time. At the moment the digital currency has been unable to become a standard unit and there is a reason behind it.

The digital currency is quite volatile in nature and this is because the valuation is still based on myths. However, the future of the digital currency is promising and it is bound to become the currency of the future.

What seems evident at this point of time is that the challenges are bound to increase for the banks but at the same time there are many opportunities too. The banks can easily cash out on these opportunities.

The banks need to make a conscious effort to win the trust of the users and this is one of the ways to remain relevant. It is vital that banks should come up with a policy so that the central bank money appeals to the investors. This way there is a possibility that the central bank money can become a medium of exchange in this digital age.

The digital currency also needs to improve its operations for its survival and success. This way investors will be enticed to opt for it.

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FSA is all set to take restrict action and reject a cryptocurrency exchange

Japan is taking all the measures to maintain transparency in the digital currency trading. This is one of the reasons that FSA is all set to take some strict actions. Just recently, FSA has decided to reject the application of a digital currency exchange to operate in Japan. The digital currency exchange is operated by FSHO.

FSA is of the opinion that FSHO does not have the necessary system to operate in Japan. As per FSA the operational procedures of FSHO are substandard. The Japanese Financial Service Authority is taking all these actions because it wants to establish a transparent digital currency trading environment in Japan.

At the moment FSA is taking strict actions against all the deemed dealers. Due to the strict policy of FSA, 8 of the digital currency exchanges have withdrawn their application already. The reason FSA is taking action against dealers like FSHO and digital currency exchanges is that it wants to promote the concept of licensed digital currency exchanges.

The traders have a sense of security when they trade using the licensed digital currency exchanges and they do not get the feel that there are investments are on the line. The suspension of FSHO business is also a lesson for other dealers who are currently executing substandard processes.

In fact the operations of FSHO have been suspended twice. When FSA suspended the operation of FSHO for the second time it also indicated the improvement areas. The main concern of FSA is that FSHO exchange needs to have a well-managed money management system so that there are no concerns related to any scams.

If a well-managed money system is there, then the users will not have any problems in withdrawals as well. The real problem was that FSHO failed to present the necessary changes on the said time.

Another concern for FSA was that FSHO did not have any defined process for verifying the identity of the customers during the process of transaction execution. If the company fails to bring about any changes once the suspension period is over, then it will not be granted the permission to operate in Japan.

This happening is an eye-opener for all the exchanges currently operating in Japan. They need to review their operational procedures so that FSA does not have any objections. The approval of FSA is mandatory if an exchange wants to continue its successful operation in Japan for a long time.

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Golix ready to step in the African market

Golix, one of the leading exchanges in Zimbabwe, has new plans. The attention of this exchange is now diverted towards the African countries. Golix has decided to focus its attention on South-Africa, Uganda, and Kenya.

Golix has planned to continue its trading activities in the African countries. The reason is that Golix has decided to expand its operations throughout the continent. Well, this can be termed as a smart approach. The reason is that if this exchange can establish global reach, then it is bound to gain more popularity.

Golix has decided to become one of the top exchanges in Africa. This exchange has been offering trading services in Zimbabwe for quite some time. In fact, it has been functioning in Zimbabwe for the past three years. The truth is that Golix was enjoying a monopoly in Zimbabwe for quite some time and it was the only exchange functioning there.

At the moment Golix has about 50,000 users in Zimbabwe, and it has been processing transactions worth $20 million. This exchange did its bit of research in Zimbabwe, and it has realized the fact that the crypto structure is quite slow in African countries.

This is one of the reasons that Golix has decided to function in Zimbabwe. The exchange has also decided to conduct a token sale in the African countries. This token sale is worth $32 million. The main objective of this coin offering is to facilitate the international payments. At the same time, Golix aims to offer instant remittances.

The best part is that clients from different parts of the world will be able to get hold of the GLX tokens from this exchange by making use of the fiat currencies. The coins that will be issued by Golix will be used to get hold of other digital currencies available on the exchange’s respective trading platform.

Golix has decided that it will charge the clients less in comparison to the charges of traditional banks. This will sure entice more clients to avail the facilities of this exchange. The future of Golix seems to be quite promising.

However, it is essential that this exchange plans out things well if it wants to get its due share of success in Africa. It is important that the exchange creates awareness in Africa about the facilities it offers. This way more people will be inclined to avail the service of Golix.

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MAS issues a warning to 8 token exchanges

The Monetary Authority of Singapore and the central bank have issued a warning to about 8 token exchanges. The warning emphasizes the fact that the exchanges should not allow digital token trading related to future contracts or securities.

The digital token trading is only permitted to the authorized exchanges. However, the positive side of the picture is that the Monetary Authority of Singapore has not made any indication that these exchanges are involved in any suspicious activities. Secondly, no complaints have been registered against these exchanges.

MAS is in action and has also signaled an ICO issuer to stop its initial coin offering. The reason the ICO was stopped is that the tokens represented equity which is security. The token cannot be offered without MAS registration. The ICO issuer has addressed MAS concern on an immediate basis and has halted the ICO.

Secondly, the ICO issuer has taken every possible step so that it can comply with the regulations of MAS. Currently, all the funds of the investors have also been returned to them by the ICO issuer. All this shows one positive thing, and that is MAS is in command in Singapore, and the digital currency community and businesses have to live by the rules set by MAS.

The truth is that Singapore can be termed as the center for token sales and this is why it is necessary that the financial authorities need to be in command here otherwise it will become difficult to maintain a level of transparency.

If we analyze the current scenario, then the number of digital token offerings and exchanges are increasing in Singapore with every passing day. This is one of the reasons that the financial authorities need to be vigilant and monitor every financial activity taking place. These steps will eventually protect the investors from losses.

The exchanges should also ensure that they follow the guidelines set by MAS. The benefit of this practice is that the exchanges can operate without any hesitance and resistance when they follow the guidelines defined by MAS. One thing is quite clear, and that is digital currency will go a long way in Singapore.

The reason is that things are organized, and the financial authorities are on the right track. If the exchanges align their processes as defined by the authorities, then they can operate with ease and will be able to win the confidence of the investors as well.

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Bitcoin Cash gaining popularity with every passing day

Cryptocurrency is getting global acceptance slowly and gradually. Just recently a crypto concierge service White Company has decided to accept Bitcoin Cash. Nowadays the businesses have realized the benefits of Bitcoin Cash, and most of the businesses are eager to cash out on the perks of Bitcoin Cash.

The reason why most of the businesses have turned to Bitcoin Cash is that the transaction fee of Bitcoin Cash is comparatively low. This US-based service White company exclusively caters to the needs of the rich who want to purchase luxurious items. This is one of the key reasons that the White Company only accepts the digital currency.

Initially, the popular trend was to receive payments in Ethereum, Litecoin and Bitcoin Core. However, as soon as this US business experienced growth, it turned to Bitcoin Cash. One of the key benefits of using Bitcoin Cash is that the processing is quite fast.

A travel agency by the name of Cheapair.com has also decided to accept the Bitcoin Cash for hotel and flight booking. The travel agency has also decided to use two more digital currencies along with Bitcoin Cash. These two digital currencies include Dash and Litecoin.

The reason why most businesses have been expanding the digital currency options is due to the customer demand. Initially, the customers did have to face some challenges with BTC. Dash, Litecoin and Bitcoin Cash do promise a better transaction potential. This is why most of the businesses are quick to adopt this digital currency as a payment option.

Since Cheapair.com has witnessed the popularity of Bitcoin Cash, it has already figured out a way to convert the coins into fiat currency. Once the coins are converted to fiat currency, the money can be paid to the hotel suppliers and the airline.

One thing seems to be quite evident, and that is Bitcoin Cash will continue its successful tenure. In fact, this digital currency has become more of an example, and it can be assumed that more digital currencies will be introduced in the future that is as efficient as Bitcoin Cash.
However, the customers should remember one basic rule when opting for Bitcoin Cash. The rule is that they should gain the necessary awareness about this digital currency so that they can benefit from the perks of this digital currency in the real sense of the word. If the customers follow this approach, they will also be aware of the latest developments related to Bitcoin Cash.

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Businesses accept the digital currency as a payment option in Czech Republic

Pražská Plynárenská is one of the key natural gas suppliers in Czech Republic. This supplier is currently serving about 420,000 businesses and homes. Just recently this supplier has decided to embrace the digital currency technology.

At the moment this supplier is engaged in many businesses which include IT equipment and Telecommunications as well. Pražská Plynárenská has now decided to take a plunge into bitcoin payments.

The company is thinking along the lines of coming up with a payment gateway. This gateway will be used for transferring the bitcoin payments into the regular currency. Pražská Plynárenská holds the honor of pioneering the digital currency payments in the energy sector.

The reason Pražská Plynárenská has thought along the lines of introducing the digital currency payment option is that the company feels that this will make them more appealing for the new generation that strongly favors the new technology.

The truth is that digital currency is already receiving quite a warm welcome in the Czech Republic. Many businesses have already decided to use the digital currency as a payment option. The benefit of opting for digital currency is that the merchants have the option to immediately convert the coins into the fiat currency.

Way back in 2017 Alza.cz started to accept the digital currency as a form of payment. The company benefitted from this decision. As per the recent reports, the crypto turnover and the orders experienced a significant increase once Alza.cz decided to introduce the digital currency payment option.

The customers are also benefitting from this offer, and they can get access to a huge number of products by using digital currency as a payment option. At the moment Alza also accepts the Litecoin. It has got lower fees, and it offers fast transactions to the users.

However, this decision to use the digital currency as a payment option has not been accepted wholeheartedly by banks. Some banks are putting in the utmost effort to stop the cryptocurrency related transactions. Some of the banks have also made sure that they impose restrictions on the digital currency operations.

Despite that, the Czech Republic enthusiasts have not been discouraged to use digital currency. One thing is quite clear at the moment, and that is digital currency will certainly prosper in the Czech Republic, and there are chances that more businesses will use digital currency as a payment option. This is why one thing can be said for sure and that is digital currency does have a bright future in the Czech Republic.

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Cryptocurrency is in the news again in due to Coinbundle and Okex

The co-founder of Coinbundle Saad Rizvi recently met the Philippines National Secretary for the finalization of Coinbundle registration. There is no denying that this is a major achievement on the part of Coinbundle. After the registration it will become much easier for Coinbundle to reach out to its customers. The users can easily start with their investments right away.

Plus the registration of Coinbundle will also create new jobs in the job market. This exchange has the honour of being one of 15 companies that are making investments in the Cagayan Economic Zone Authority.

CEZA can be termed as an economic zone that offers tax incentives to companies that are successfully operating the Fintech industry. The registration of Coinbundle will encourage financial innovation. Plus, the investors will also be able to get the necessary protection they need because they will have access to exchanges like Coinbundle that are registered.

This means that the investors can look forward to transparent operation if they decide to invest in Coinbundle. There is also a lot happening at the end of Okex as wello, the third largest digital currency exchange in terms of volume.

Okex received reports from users that they had suddenly experience massive balances in their accounts. This is why Okex decided to suspend the withdrawals on 22nd May 2018. The users also reported abnormal cryptocurrency prices.

Apparently, it seems that Okex wants to investigate this issue and this is why it has suspended the withdrawals. After the initial investigation Okex revealed that there had been a technical error and this is why the balance of some of the users was not displaying correctly.

Okex has also ensured the users that the fix of the issue will not affect the balances of the users in anyway and their balances will remain safe. At the moment Okex is on a mission to verify the data of the users.

Singapore is also taking major steps to promote digital currency. The Monetary Authority of Singapore has already decided to evaluate its legislations that focus on the regulation of exchanges.

The benefit of this practice is that Singapore will be able to evaluate whether the regulation of the exchanges is in line with the changing economic landscape. At the moment Singapore is thinking on the lines of coming up with a three tier RMO for the market operators. The financial institutions have also been invited to give in their comments in this regard.

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Russia issues digital currency bills to redefine the use of digital currency

Russia is also making the due progress in the digital currency world. Just recently, Russia has approved three legislations that are focused on regulating the digital currencies. The drafts of the first two legislations were introduced by a deputy group on 20th March 2018. The third legislation focuses on the amendment of the country’s civil code and it was submitted on 26th March 2016.

The legislations discuss the concept of smart contracts and digital rights. Another important thing to mention here is that the legislations have discussed digital currencies and tokens as properties. The texts of the legislations also give a hint that digital currency mining needs to be legalised soon.

Taxation laws for the miners have also been discussed in the Parliament. The bill regarding the Digital Financial Assets focuses on regulating the digital currencies. It also focuses on transparent issuance and storage of digital currencies. The draft of the bill also lays the foundation for conducting the digital currency transactions.

The draft of the bill also discusses the obligations that need to be followed while conducting the digital currency transactions. The bill highlights the fact that the details of the digital currency transactions need to be maintained in digital transactions register.

Russia has also clearly stated that the digital currency is not a legal tender. The authors of the bill have clearly mentioned that digital currency can have multiple issuers. On the contrary, the tokens can have one issuer. Both the digital currency and tokens can be exchanged with foreign currencies.

The bill also mentioned that the digital currencies can be used as a mode of payment provided they follow the course of action that has been defined by the law. The digital currency bill emphasizes that the sale and the purchase of cryptocurrency should be performed through the exchanges only.

The legislations have also given a detail account of the actions that need to be followed when issuing tokens. All the participants of the initial coin offering will need to give out detailed information about the venture. This step is necessary to maintain the element of transparency in the projects.

The legislation also requires the miners to register as legal entities or entrepreneurs with the federal tax service. If things go as set by the legislation, then one thing can be said for sure and that is digital currency is bound to prosper in Russia as well.

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Operation Crypto Sweep receives appreciation from SEC Chairman

Jay Clayton the Sec Chairman recently applauded the efforts of regulators in the United States of America and Canada to stop the fraud in the initial coin offerings. Clayton feels that the actions of the regulators should be a red flag alert for all those who are trying to sabotage the clean digital currency trading environment.

What is worth appreciating is that the regulators are cooperating at the international level to stop the fraudulent activities. The operation Crypto-Sweep has about 40 North American regulators participating in this venture.

The reason this operation started in the first place is that currently 70 investigations have been completed or in process related to crypto frauds. This is why the authorities are of the opinion that this issue cannot be ignored for long.

Clayton also stated the fact that the issuance of unlicensed securities through the initial coin offering is a serious issue. He mentioned that federal and state laws apply to the sale of securities that take place through the traditional channels or the website. This is why all necessary information related to ICO and securities should be disclosed to the investor so that he does not have to worry about any losses.

This is high-time that crypto fraudsters should take heed and they should not spoil the digital currency investment environment. The truth is that if the element of transparency is missing, then the investors will not be keen to invest in the digital currency market and they will not develop a comfort zone.

This can eventually harm the digital currency environment and this can become a hurdle in the development and the growth of digital currencies. What is needed at this point of time is that strict action should be taken against digital currency scams so that such activities are discouraged in the near future.

The regulators should review the processes of initial coin offerings and this way it will become much easier for them to identify the potential loopholes in the process. Once these loopholes are identified it will become much easier to come up with remedial processes to deal with these issues.

At the same time the investors should also do their bit of research before deciding to invest in an initial coin offering and they should gather necessary insight about securities. This way they can protect themselves from losses and gather potential profit from digital currency investments.

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Coinbase to start operation in Japan

Coinbase is currently one of the most popular digital currency exchanges. At the moment this exchange has big plans. Recently, this exchange announced that it would soon step in the Japanese digital currency market. The exchange plans to establish an office in Japan very soon.

The best part is that the digital currency exchange plans to operate legally and wants to follow the rules and regulations set by the Financial Services Agency of Japan. This is one of the reasons that the investors should invest their trust in this exchange.

When the exchange complies with the rules set by Financial Services Agency, then the investors can look forward to a transparent operation. Coinbase already has the honor of operating in about 32 countries. It has a massive client portfolio, and the number of users is more than 20 million.

It seems that Coinbase was planning to expand its operation in Japan since 2016. It seems that Coinbase wants to play safe and wants to follow all the rules before stepping into the crypto market in Japan. Just recently Payment Services Act became effective in Japan, and now it is mandatory to acquire a license to operate in Japan.

At the moment there are about 16 digital currency exchanges that are licensed. This means that it is the appropriate time for Coinbase to step into the crypto market since it does not have a lot of competitors currently.

If the exchange follows the terms of the Financial Services Agency, then it seems that it will not have any issues in its operation. However, it is important that Coinbase should live up to the expectations of the users. It should promote the same level of transparency in Japan as it promotes in other countries. Only then the Japanese residents will be keen to opt for this exchange.

The Japanese residents should also see Coinbase as an investment opportunity. They should make sure that they gain necessary insight about this exchange so that they can make the most of the perks that are offered by this exchange.

If all goes well, then the operation of Coinbase in Japan will turn out to be a big milestone. It will promote the success of digital currency in Japan, and more investors will be keen to acquire the services of this exchange. However, the conclusion can be drawn about the future of Coinbase in Japan once all the legalities are completed.

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Hitbtc halts operations in Japan

There have been a lot of ups and downs in the Japanese digital currency market recently. Hitbtc is regarded as the eighth largest crypto exchange in the world. This exchange just suspended its service in Japan.

This exchange was established way back in 2013. It provides access to the crypto assets under the Hitbtc trademark.

It offers a wide range of digital currencies that include Monero, Litecoin, Ethereum, and Bitcoin. Hitbtc has got more than 300 digital currencies, and this is why the users have got plenty of choices. The 24-hour trading volume of this exchange is also quite impressive.

The exchange is taking all the adequate measures so that the residents of Japan will not be able to access its services at all at this point. The reason is that the licensing process is not completed.

Hitbtc makes use of advanced technology. This is why it can easily detect the IP addresses that are based in Japan. The exchange stated that if the respective technology detects that the IP is based in Japan, then, in this case, the user will have to provide the residency details to confirm that he is not a Japanese resident.

However, the exchange clearly stated that the residential restrictions would apply to the residents of Japan only. The Japanese Payment Service Act became effective in April 2017. It legalized the digital currency as a mode of payment.

However, there is an important clause in the Act that cannot be ignored. The clause states that any digital currency exchange that operates in the country has to register with the financial authority. At the moment about 16 exchanges have been granted the authority to operate in the country.

The financial authority strongly condemns those exchanges that have been operating without a license in Japan. It seems that Hitbtc is quite focused on its goals and has not decided to terminate the operation in Japan completely.

This exchange has been working with a law firm. The basic objective is to let the law firm manage the licensing process for the exchange. This means that once the licensing process is done, then there are chances that Hitbtc might start operating in Japan again.

What is worth appreciating here is that Hitbtc intends to work the legal way. It is a reputed exchange, so Hitbtc does not want to take any risk at all. The actions of this exchange should be appreciated and let us hope that the Japanese residents get access to this exchange very soon.

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Vctrade all set to make it big in the Japan crypto market

Japan is making a lot of progress in the field of digital currency. Just recently Japan-based SBI Holdings announced that its subsidiary would launch a cryptocurrency exchange by the name of Vctrade.

However, there are some restrictions relating to Vctrade at this point in time. Currently, this exchange is available for those users only who registered in October last year. However, it seems that this exchange has gained a lot of popularity quite quickly. About 20,000 users have just applied recently for account opening. These applications will be treated as advance applications.

However, Vctrade will be accepting the new account opening applications from July onwards. At the moment Vctrade deals with a limited number of digital currencies. It deals with the Bitcoin, Bitcoin Cash and XRP.

This virtual exchange offers spot trading only at the moment. The currency pair that is available for spot trading at this point in time is XRP/JPY. The incentive for the customers is that they do not have to pay any transaction fee. The settlements are carried out in Japanese Yen.

Most of the cryptocurrency investors should think along the lines of making investments using the Vctrade. There is a reason behind this move. Vctrade is a licensed exchange. This means that the user investments will be safe when they make investments using Vctrade.

This exchange has the honor of being one of the 16 exchanges that have been approved by the government. The initial plan was that this exchange was supposed to be launched last year. However, the company wanted to approve its accepting application system. This is why this exchange was not launched till this system was ready.

The company behind Vctrade has big plans. SBI Holdings intends to expand its business in Asia. This means that Vctrade will also get the due popularity and will be able to extend its reach to users of other countries.

Though the future of Vctrade seems to be quite promising the users should play it safe. They should make sure that they have adequate insight about Vctrade before they make any investments. The investors should also have a clear idea about the operation of the Vctrade.

This way they will not have to worry about the fact that they will lose any money at the end of the day.
It seems that Vctrade will continue its successful journey and is bound to give the competitors a tough time.

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