Reuters: Japanese Regulators to Introduce New Rules Regarding Exchanges’ Cold Wallets

Japan’s Financial Services Agency will reportedly introduce new rules regarding cold wallets for storing cryptocurrencies. Japan’s Financial Services Agency (FSA) will reportedly introduce new rules regarding cold wallets for storing cryptocurrencies at crypto exchanges, Reuters reported on April 17.Citing a source familiar with the matter, Reuters reports that the country’s financial regulator will reportedly require cryptocurrency exchanges to strengthen internal supervision of cold wallets — devices for storing digital currency which are not connected to the Internet.By implementing the new regulation, the FSA purportedly addresses the difficulties of ensuring the security of digital currencies and other risks for the country since it intends to boost the fintech industry to stimulate economic growth.Although cold wallets are not connected to the Internet and, therefore, provide better security to digital assets, the FSA suggests there could be risks of internal theft.…

Rakuten Begins Registrations for Cryptocurrency Exchange Ahead of June Launch

Prospective users can apply for an account using an automated online process detailing requirements. Japanese internet giant Rakuten has begun letting prospective users of its Rakuten Wallet cryptocurrency exchange open accounts, Cointelegraph Japan reported on April 15.Rakuten, which plans to launch the exchange in June, now offers online registration for traders, all of whom need a Rakuten user ID and associated bank account to complete the process.The company took over Everybody’s Bitcoin platform in 2018, introducing changes that allowed it to procure a license for the operation from Japanese regulators in December.…

Japan: Resona Bank Ends Partnership With Ripple-Based Payment App MoneyTap

Major Japanese bank Resona withdrew from Ripple-powered blockchain payment project MoneyTap without specifying the reasons. Major Japanese bank Resona will withdraw from Ripple-powered blockchain payment project MoneyTap on May 13, the bank announced on April 11.A subsidiary of Resona Group, the fifth largest banking group in Japan as of 2012, Resona Bank joined the project in October 2018, along with SBI Sumishin Net Bank and Suruga Bank.Launched on Oct.…