Company behind the Japanese cryptocurrency "Mandrino" to move to London between investigations

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The Japanese cryptocurrency Spindle, known for being promoted by the popular singer, actor and talented Japanese Gakuto Oshiro (45), alias GACKT, has announced that it withdraws from Tokyo to transfer its headquarters to London, among the voices according to which Tokyo Metropolitan Police is investigating unregistered cryptocurrency sales made by the company.

Read also: J-Pop Star GACKT caught between Crypto Company Spindle and Minister & # 39; s Gaffe

Japan unsuitable for Crypto Business

GACKT told news.Bitcoin.com in an online interview that exists a notable disparities in Japan compared to overseas with regard to cryptography, explaining, "Black Star & Co. I decided to move to London, where it was initially started, because [in Japan] it takes a huge amount of time for the various procedures. [They decided] would not be suitable for a company of cryptocurrency, which in essence must be fast, to remain in such an environment. "

  Japanese cryptocurrency spindle to move to London amid investigations
GACKT [19659008] Black Star & Co, the development company behind Spindle, said it will withdraw from Tokyo to hire an office in London from August 15, where it will be known as Black Star Capital Ltd (United Kingdom). The company had first been involved in a scandal that shook Japan's Minister of Internal Affairs and Communications, Seiko Noda, accused by Japanese media of exerting pressure on a government investigation into a cryptocurrency company.

In January 2018, Noda & # 39; s secretary and assistant allegedly invited an agent of the Financial Service Agency (FSA) and a representative of the cryptocurrency exchange operator to his parliamentary office to ask general questions. As a government minister, Noda was accused of exerting pressure on an official government investigation.

On July 19, it was reported that the company linked to Spindle and GACKT was suspected by the FSA that it had violated the law on liquidation of the fund and had been announced with a warning in mid-January 2018. The company, Spindle, aka GACKT Coins in October 2017, received the administrative guidance from the FSA in February 2018 to cease the sale of cryptocurrencies.

  Japanese cryptocurrency spindle to be relocated to London between investigations

However, the spindle (SPD) altcoin, which was quoted on five foreign cryptographic stock exchanges in May, was pre-sold with a coin for the price of 30 yen ($ 0.27 US), but the value subsequently fell to less than 0.4 yen (US $ 0.0036). Investors who believed in GACKT, the Spindle promoter and bought the coins suffered a significant loss. In addition, GACKT and its allies sold immediately after the price of the currency, and they made a lot of money to do so, reported news.livedoor.com. It has also been reported that the Tokyo Metropolitan Police Crime Unit has been extremely attentive to such opaque transactions.

Spindle Investors Will Be Upset

In a press release, the company announced that it is moving its headquarters from Tokyo to London because it has more partners who are familiar with technology and design in Europe and in United States "We want to stay in close contact with them," the company said in the press release. "Given Japan's current position on regulation [crypto] and financial investments, it is difficult to further expand our business [here]," the company said in a statement. An individual in the IT industry told the Japanese press that Spindle had hired GACKT as an "advertising man" to target the Japanese in general, including his fans. "If [GACKT] plans to move away from Japan now, many people will be really upset, and many will take it while they are fleeing just before the authorities approach them," the man told news.livedoor.com. The company has also declared the intention to change staff related to project consulting

"The Japanese are extremely dependent on the legal currencies issued by the country and the national administration also has a lack of knowledge of the cryptocurrency itself" , GACKT told the news. "It is indeed safer for investors to put Spindle in an infrastructure management in which to expand, grow and prosper," he concluded.

What do you think about Spindle coming out of Japan while the police are investigating their previous melt coin sales? Share your thoughts in the comments section below.


Images courtesy of Shutterstock and Paragon-style.com.


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