Articles by "Japan"
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Japanese Globalway Company Establishes Economic Sharing Protocol and Launches IEO

TimeCoinProtocol is a new project built by TimeTicket that makes use of blockchain know-how to create a decentralized sharing economic climate platform. This answer is powered by the TimeCoin token (TMCN), the original EOS-based token that is used both for bills in decentralized packages that are built centered on protocols and for the allocation of prizes to assisting Structures. TimeTicket's parent manufacturer is the Japanese generation group Globalway Inc., which has more than 50 million clients and is listed on the Tokyo Stock Exchange.

Starting Point - TimeTicket, Service with 250,000 Users

TimeCoinProtocol will make it possible for customers of economic sharing programs to migrate from one service to another while protecting all your Richly deserved personal records and Fame. This also makes it attractive for dApp builders to adopt, because it allows them to offer their services to a much better group of customers who are attracted by the entire dApps environment than they each can get it themselves. The protocol has actually been followed by the improvement team's services. The first two dApps of the many estimated to use TMCN are TimeTicket and eSportStars.

TimeTicket is Japan's shared economic market with more than 250,000 registered Customers. The market currently incorporates an as a middleman between people who want to provide services by selling their own time and people who want to buy this service from them. TimeTicket will use TimeCoinProtocol to offer a new decentralized market with peer-to-peer interaction directly and without intermediaries. The brand collected more than $ 3 million USD from buyers and its profits have hot temperatures more than 20 times over the past 3 years.

New eSports service

eSportStars is a new service that allows Gamers, streamers, and esports fanatic to easily find people to play, buy, and promote competition tickets and win TMCN tokens. Out there in Japanese, English and Chinese language, eSportStars will enter the shortly developing global esports market with the help of a professional esports team. Official teams that have signed up for this service include Japan's first female professional sports team JapanKillerAngel who specializes in games such as PUBG and Valorant, GameWith who specializes in Fortnite and Super Ruin Bros, and Japan's most famous Tekken player, TeamYAMASA.

The developer of TimeCoinProtocol plans to launch an Initial Exchange Offering (IEO) for TMCN tokens on BitForex. The time table for IEO will soon be introduced by the exchange. The initial TMCN token furnish was set at 100 million.

The TimeCoinProtocol team also plans to announce activities where supporters such as community members can acquire tokens based mostly on their contribution to the project. This activity will be introduced on the project Telegram channel so be sure to follow it for updates.

To learn more about TimeCoinProtocol and follow the upcoming TMCN token Opinions, visit www.timecoinprotocol.com and join for updates via email, Telegram or Twitter.
Crypto Donations That Are Not Reported Are Legal.

Crypto Outpaces Political Donation Laws in Japan


A major Japanese news publication reports that the crypto donation to each politician is legal and does not need to be reported publicly as a contribution. The Japanese Ministry of Internal Affairs and Communications verifies that even though it is illegal to donate cash or securities directly to politicians or political campaigns, crypto donations still fly under the radar because of technical classification. The gap has several commentators in the country who say the current law "does not keep pace with the times."

Crypto Donations That Are Not Reported Are Legal


Japanese media outlet Yomiuri Shimbun reported on Saturday that "Cryptographic assets, donations for individuals are legal," even when direct individual donations to politicians are not currently related to the Japanese yen and marketable securities, stocks and bonds.

Under current conditions, political contributions in fiat currencies and other standard instruments must be donated to political organizations and reported to the public by the receiving entity. However, due to technical classification, cryptographic assets fly under this regulation, according to the Japanese Ministry of Home Affairs and Communications. As it stands, individual politicians can thus receive individual crypto campaign funds without reporting donations publicly.

Infographic detailing the current legal status of political donations under Japanese law. Source: Yomiuri Shimbun.
Although crypto has the status of a legally accepted currency in Japan, the Political Fund Control Act that regulates donations reportedly fails to include crypto assets as illicit money or securities for individual political donations due to crypto differences from the national fiat yen and its derivatives. This law can be renewed immediately to build greater transparency in the political process. The article quoted Japanese University Law, Professor Tomoaki Iwai, as stating:

The current law does not keep pace with the times.

Technology Outperforms Government


A centralized government falling behind technological innovation is not new, and while regulators are likely to jump on this new invention soon to close the door to crypto-enabled funding routes under the table, it serves to demonstrate the power of technology in general. For those who enter the crypto space at least in part because of privacy, autonomy and the efficiency of crypto assets, the situation in Japan presents evidence of a real-life concept: centralized regulation, in essence, will always fail to keep up with decentralized and rapidly developing technology.

A Twitter user commented on the story, noting that the current situation is a kind of anachronism, posting a famous Japanese cartoon depicting an old-time bureaucrat and rich donor talking about how corrupt they were together, with bureaucrats saying cunningly to donors, "You’re bad too" @Nishi8maru stated in his tweet that "this legal status is a typical example of anachronism."

This legal status is a typical example of an anachronism.
Users in the thread voiced confusion and mistrust of the news, noting that the Japan Financial Services Agency (FSA) had set up crypto and that it was a taxable asset for everyone, which had to be reported by individuals. Some claim that politicians only use and make laws to serve themselves. Whatever the case, crypto once again shows itself as an effective tool in avoiding regulation. If politicians can use it to fulfill their own goals, however corrupt or virtuous it is, the story leaves some people wondering how everyday individuals can utilize the same innovative power of financial sovereignty in their own lives, kings, and bureaucrats are condemned.

Resource: https://news.bitcoin.com/crypto-outpaces-political-donation-laws-in-japan/

Line Corp Crypto Exchange.

Bitmax, Line Corp's Crypto Exchange Starts Operating in Japan


The launch of the Bitmax cryptocurrency exchange in Japan will allow 80 million LINE users to exchange virtual assets such as Bitcoin and Link, which are virtual crypto assets from LINE.

According to LINE Corporation and the operator of virtual assets and operating companies related to the blockchain, LVC Corporation, BITMAX has been operating and will be available to Japanese users starting Tuesday (17/09). BITMAX is one of the leading crypto exchange platforms that seek to meet the trading needs of users who want a modern and secure network for trading virtual currencies.

Based on the news reported by Tron Weekly Tuesday (09/17), after obtaining an operating license from the Japanese Financial Services Agency (FSA), BITMAX is scheduled to begin platform operations in the next few days. The launch of the BITMAX platform in Japan will allow 80 million LINE users to exchange virtual assets such as Bitcoin and Link which are the original virtual assets of LINE. BITMAX operations increase the coverage of the LINE crypto exchange portfolio to two after launching Bitbox in Singapore in mid-2018 ago.

After the agreement, the Japanese messaging giant, LINE business unit, became one of the few licensed crypto exchange platforms in Asian countries, which recently added Rakuten Wallet, as well as other big players such as SBI VC Trade and Coincheck.

Bitmax Will Trade 5 Major Crypto Currencies


According to trusted sources, the FSA has agreed to trade important crypto assets on the platform which includes major crypto assets, Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP), Ether (ETH), and Litecoin (LTC).

According to the FSA website, the registration process ended on September 6 on behalf of LVC CORP., Which is mandated to oversee LINE virtual assets and blockchain operations.

Also, supreme leader Takeshi Idezawa confirmed the approval message to the Tokyo Stock Exchange.

LINE revealed that it has more than 187 million global users who use its platform every month and has an estimated 50 million registered users on the cellular payment service platform, LINE Pay.

Source: investing.com