NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

From Retailers to Major Banks, How the Crypto Sector of Japan is Exponentially Growing

Davit Babayan
Davit Babayan
6 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In a recent development in Japan’s crypto industry, Mizuho Financial Group announced that it would launch its digital currency on March 1.

According to Nikkei Asian Review, the 1.8-trillion megabank’s digital currency service would allow users to exchange their yens for a cryptocurrency called J-Coin through an app of the same name. The experience will be similar to other payment applications: users would scan a QR code through the app and transfer money to the intended receivers.

#Mizuho's digital currency to take on payment rivals next month #crypto https://t.co/JTMo7IgrUs

— Tonyx (@TonyXhufi) February 23, 2019

At the same time, the best thing J-Coin app would offer will be a ‘zero transaction fee’ structure. Merchants will not be required to pay a transaction fee when transferring money from J-Coin wallet to their bank accounts. In comparison, traditional payment apps charge 3-to-5% processing fee on each transaction. That is where J-Coin’s crypto innovation is proving useful for users.

Credit Goes to Friendly Crypto Regulations

Mizuho’s move follows years of regulatory development inside the Japanese cryptocurrency industry. Three years after the Mt. Gox incident, the country brought cryptocurrencies like bitcoin under their Payment Service Act, giving them the status of money. It subsequently offered clear tax guidelines for crypto investors. In contrast, western countries were slower than Japan while developing a robust legal framework for cryptocurrencies.

Japanese regulator Financial Services Agency (FSA) also granted crypto industry to form an independent self-regulatory body to formulate rules and regulations. Dubbed as the Japanese Virtual Currency Association, the body enabled the crypto industry to remain flexible and adhere to Japanese laws without trampling innovation surrounding crypto assets.

Such initiatives enabled the FSA to study various aspects of the cryptocurrency industry deeply. The agency is now seeking to force ICOs into registrations before they raise funds – much like their counterparts in the US and Europe. It is also imposing strong KYC/AML compliance, in addition to limiting the amount of leveraged trading and enforcing advertising restrictions.

The reformist moves allowed the Japanese crypto industry to flourish amidst minimum risks. FSA recognized that over 200 companies were seeking regulatory approval at the end of 2018. Coinbase, a US-based crypto exchange, is awaiting approval from the FSA to operate within Japan. Huobi, another crypto exchanged, purchased a Japanese company to expand its operations in the region. In a similar move, Yahoo Japan acquired BitARG crypto exchange to launch its crypto services in Japan.

Merchant Adoption

Japan’s service industry also explored cryptocurrencies in the wake of friendly regulations. Bic Camera, the region’s biggest electronics retailer, announced in June 2018 that it would accept bitcoins as payments.

Rakuten, Japan’s biggest e-commerce store, not only planned to integrate a crypto payment option but also announced that it would acquire a local bitcoin exchange for $2.4 million.

Spot on, Japan is moving fast in crypto.

– Japan's biggest electronics retailer Bic Camera accepts Bitcoin
– Japan's biggest e-commerce giant Rakuten has a Bitcoin exchange + plans to integrate crypto
– Big banks like Mizuho / SBI are committed to the cryptocurrency sector https://t.co/mgEdQ1PByi

— Joseph Young (@iamjosephyoung) February 25, 2019

Regardless of being primarily a cash-based nation, Japan is looking to jump two-steps ahead of other countries: a direct switch from cash to digital currency. The entrance of larger institutions like Mizuho certainly validates the potential demand for cryptocurrencies in the region. It would make Japan a frontrunner in crypto adoption as far as 2019 is concerned.

Tweet123Share361ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Price Stuck In ‘Loading Phase’, What This Means For The Campaign For $5,000

The Ethereum price continues to test investors’ patience as it consolidates just beneath critical resistance levels. A crypto analyst has...

Scott Matherson 4 hours ago
Dex Volume Hits Over $1T in August: Why Best Wallet Token Stands To Gain

Dex Volume Hits Over $1T in August: Why Best Wallet Token Stands To Gain

The decentralized exchange (DEX) market has just reached a historic milestone, with over $1.15 trillion in volume processed during August....

Aaron Walker 6 hours ago

Top 3 kryptomeny na investovanie v septembri 2025

Začiatok jesene prináša na kryptomenový trh novú dynamiku. Kým Bitcoin sa obchoduje okolo hranice 110 000 dolárov a Ethereum atakuje...

Nina Šefčíková 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

ethereum

Ethereum’s Latest Rally Fueled By Large-Scale Binance Orders, Analyst Says

Ash Tiwari 1 hour ago
Bitcoin

Metaplanet Becomes A Global Bitcoin Powerhouse with 20,000 BTC Hoard, More Buys Ahead?

Godspower Owie 2 hours ago
dogecoin_doge_dogeusd_5_optimized

Dogecoin Price Set For Explosive Rally If This Structure Holds

Sandra White 3 hours ago

Premium Sponsors

Press Releases

  • 12億ドルの売り越し、市場は調整局面に突入か?

    イーサリアム...

    2 hours ago
  • ビットコイン...

    3 hours ago
  • シバコイン 今後の行方

    シバコイン...

    3 hours ago
  • パイネットワーク...

    3 hours ago
  • 1 najbolja kriptovaluta za kupiti prije nego što poraste za 3.536%, prema Cathie Wood (ARK Invest)

    1 najbolja kriptovaluta za kupiti prije nego što poraste...

    4 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.