Takuya Hirai – was appointed by the Japanese Prime Minister as the new Minister of Science and IT / Technology at a time when the country is focusing even more on the blockchain that is spreading in various sectors.
The crypto-verse welcomed the decision, as the new minister had a point of view in the past when it comes to conclusions related to cryptocurrency legislation while being a promoter of new technologies, in this case blockchain.
A government-supported study group was requested by the FSA – Financial Services Agency [the financial regulator of Japan] offer rules and proposals for the adoption of Initial Coin Offerings. The general councilor of the group was Takuya Hirai.
– SBI Ripple Asia, a Tokyo-based joint-venture in Japan, launched its blockchain-based money remittance app. The app called MoneyTap can make domestic transfers in real time and at no cost using Ripple's xCurrent payment solution. More in the details dealt with here.
The Japan Bank Consortium today launched MoneyTap, a Ripple-based payment app to offer real-time regulation for domestic payments in Japan! https://t.co/nNtkSfq2PN pic.twitter.com/oeg2XBZG66
– Ripple (@Ripple) October 4, 2018
– The blockchain industry in Japan with a raw history of hack exchanges, money laundering cases and so on, has made the major start-ups in the Asian country to reduce the possibility of this happening by establishing a self-regulated consortium. The group is called: Japan Exchange Exchange Association, or JVCEA for short.
The Japanese consortium Crypto tightens the rules by following Zaif, CoinCheck Hacks