Crypto News From Japan: Nov. 2–9
Joeri Cant's original article for cointelegraph.com reduced by 60%
Here is the past week of cryptocurrency and blockchain news in review, as originally reported by Cointelegraph Japan. FSA confirms ban on cryptocurrency investment trustsThe Japanese financial regulator, the Financial Services Agency, has solidified its policy of banning investment trusts that invest in cryptocurrencies. At the end of September the FSA announced a draft guideline, in which it stated that the composition and sale of investment trusts that invest in cryptocurrencies are "Not appropriate".
Although the supervisory guideline is not a law, the FSA reportedly intends to restrict excessive funds from flowing into cryptocurrencies, aiming to "regulate before commercialization. Coincheck starts automated cryptocurrency accumulation serviceJapanese cryptocurrency exchange Coincheck announced that it had begun offering Coincheck Tsumate, an automated cryptocurrency accumulation service, also known as the dollar-cost averaging method. Coincheck denies any link to Stellar's massive recent token burnCointelegraph Japan reported on Nov.
8 that Coincheck has denied any link between Stellar Lumens' massive token burn conducted by the Stellar Development Foundation and Coincheck's announcement that the exchange is about to list Stellar. There has been a great deal of speculation that the Japanese crypto exchange Coincheck was aware of Stellar's 55 billion XLM token burn at the time they announced the XLM listing on its exchange.
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CN [too long; didn’t read]
Summarised crypto news.