Japan FSA regulations, Fed Research Paper Bitcoin Futures Cryptocurrency Price Impact, BYTECOIN UP!

everybody its Eddie from Tokyo this is your cryptocurrency update from Japan well it is the 8th of May 2018 and in less than 10 minutes I'm gonna bring you the number one story from Japan in the last 24 hours and I'm gonna also focus on the number one story that has just recently broke globally and last I think I'll bring you the number one coin that has dumped the very best today among the top 100 in the market cap and we'll take a look at what's going on in that world okay so first Japan introduces five-point agenda for cryptocurrency exchanged regulations ah you know it's another regulation story and I know you're probably getting tired of these it's all due to the FSA the FSA is the financial service agency and they are under the Ministry of Finance they are responsible for licensing the crypto currency exchanges in Japan they have decided to take a heavy hand and make sure that everybody is maintaining a certain safety standard and in doing so you need to jump through their hoops if you don't then you're gonna follow the exchanges like kraken who said goodbye and finance went to malta to other agents or to other exchanges actually withdrew their applications to pursue a license and there are two exchanges that were closed down because they couldn't meet the requirements so you know if you're going to operate in japan you're gonna have to comply with the safety standards that have been set by the FSA and why is the FSA so so strict is really actually quite simple they this country wants cryptocurrency to be successful that's absolutely for sure and in addition to that we have just a very terrible experience with the Mount GOx hack and also we just had the coin check hack with all the NEM that was stolen and both of those were just horrible experiences and you know despite the setback the the country still has faith in trading but I think the the people of Japan are welcoming the FSA to step in because they really do want to have some safety and until we have decentralized exchanges to choose from that are easy to use and have high liquidity great support and a good track record and we feel safe about them we're stuck with these centralized infrastructure right now when it comes to the exchanges so I'm hoping for decentralized choices and options but still it seems very early in the in the in the ecosphere but I believe it's coming ok let's take a look at these five points all right firstly crypto currency exchange platforms will adhere to a robust standard these standards include ensuring that coins are not stored online wallets and creating two-factor authentication so you know I hope everybody is following this common sense because this is just a real minimum standard to abide by ok secondly these exchange platforms will develop thorough know your customer or kyc processes the essence of this step is to money laundering Japan has been fighting the organized crime groups for a long time and they do everything they can to cut them off financially so they don't want to have any possibility that they can launder their money and they see the cryptocurrency exchange as a place that they can that they can acquire cash for their illegal dealings and that's why this is very much highlighted thirdly the FSA will require crypto exchange platforms to invite and buy buy and buy best practices regarding asset management activities thus customer assets must be managed separately from the corporate exchange assets I I know what where this came from about a month ago when they did an on-site inspection they actually found one of the exchanges was mixing the corporate assets with the customer assets and that just is a no-no and they I'm sure felt like they needed to to put this out there as one of their points so that they didn't have to deal with this again the fourth point deals with restrictions on particular crypto species that FSA has blacklisted privacy focused crypto switch grant complete anonymity making them popular with money laundering activities so coin check before these points came out just last week D listed mo narrow Z cash and – so I'm afraid that these three coins are just not going to be able to be traded in in this country the final point covers the structure of the exchange platforms and how they operate the FSA is calling for a clear organization structure with these companies well this doesn't seem out of the ordinary it seems not too much to ask and it should be something everybody can can meet in terms of a requirement so this won't be the last regulation story we see and now maybe you'll understand a little bit more as to why we are getting these regulations so strictly enforced here in Japan all right next story this one is big and the feds just did a research paper and they discovered in their research that the Bitcoin futures that were launched you know in December impacted the cryptocurrency price so we really need to be looking at this story carefully with some critical thinking and the thing that worries me is that goldman sachs is coming to the market now I'm happy for the institutional money managers to come because I think a lot of those customers are going to migrate over to be great customers of crypto not only in some of the major coins but also some of the alt coins and not everybody's going to want to do futures I'm sure some people are going to want to be active traders some people just be good Hodler but those people that do want to do securities security trading in particular the futures I think we really need to understand that the impact could be negative and that is because if you have a whole lot of people that are betting that the price is going to go down and they are pessimistic as this article will show you it's a quick read it's short I'm going to put it in the comment section but in the research paper that was published yesterday the authors who include researchers from the bank and the professor of Finance at the Stanford Graduate School of Business are in the opinion that the peak price of Bitcoin last December coincided with the launch of the Bitcoin futures on the Chicago Mercantile Exchange or that what's called as the CME so the researchers note that since the inception in 2009 the price of the digital currency remained under 1,150 until the 22nd of February 2017 then for about ten months its value began to increase reaching a peak of nineteen thousand five hundred eleven on the 17th of December 2017 the authors state that these price dynamics are similar to the rise and collapse of the housing financing market in the 2000s and it goes on further to say that the team said that the introduction of the blockchain has brought a new financial instrument Bitcoin which in turn gives optimistic investors the chance to bid up the value of the coin interestingly with the launch of the future contracts from the likes of CME and fellow Chicago Exchange CBOE pessimistic investors are now joining the fold as a result the researchers state that this has contributed to the reversal of the Bitcoin price dynamics so I just am a little worried about the future if we bring a lot more future trading to the space so we just have to wait and see and I'm I'm gonna give it a lot of a lot more thought I'm gonna give it a lot more research and we're just gonna really have to wait and see which way a lot of these new invest are going to are going to participate in the cryptocurrency space yeah okay so let's take a look at who the winner is today in the market if we take a look at the change Wow so bye-bye coin 86% up it's just been on a tear yeah so be careful everybody because anytime you see a coin like this do this kind of move inevitably you're gonna see a decline so just be careful and beware but this coin is a little bit interesting I don't know if you know about white coin it's it just got listed on Finance which is why today actually it had a skyrocket initial gain of a hundred and fourteen percent but it's one of the coins that I've I've never really been a fan of this coin but it is an interesting coin because it does have some trading pairs on by Nance so you can do a let's see what is it I'm so proud to announce the finance has been listed and then that's a that's a testimonial so the it's an open source private untraceable virtual currency and it was launched back in 2012 so it's been around a long time it is the first cryptocurrency to implement the crypto note technology as a default aspect to build the project and the currency is widely spread in the darknet as one of the most popular available methods for payments so based on today's story with the FSA I don't think you'll be seeing by coin listed on any exchanges here in Japan so anyway that's all I have for today it's a short in it's sweet and it's quick and I do wish you the very very best and I hope to see you again tomorrow if you like the updates and especially have a little bit of a lien from Japan please subscribe and hit that Bell so you can get the notification and we'll be talking to you soon thank you so much all right sayonara for now bye bye

One thought on “Japan FSA regulations, Fed Research Paper Bitcoin Futures Cryptocurrency Price Impact, BYTECOIN UP!”

  1. Very good information on FSA. Thank you great content. I always say CKJ Alliance is global. Would love to have a weekly quick up date on my show with you from Japan 😁

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