Japan Intends to be World Leader in Crypto Market

Number of experts believe that despite all difficulties, Japan plans to become the "Bitcoin capital of the world"
06 February 2018   742

Despite a number of serious cyber attacks on large crypto exchanges, Japan continues to attract capital to popularize cryptocurrencies and is seeking to take a leading position in this market. This is reported in interview to The Daily Express by a number of experts in the field of investment.

In their opinion, Japan is not going to abandon its plan to become the first country in which the crypto currency will become absolutely legal.

There are estimates that tax revenue from the cryptocurrency business, including capital gains taxes from individual investors and from corporations, could amount to 1 trillion yen (US$9.2 billion), though that is very speculative at this stage.

Takashi Shiono

Economist, Credit Suisse in Tokyo

The government of the country expects that the capitalization of the growing interest in crypto-currencies will be an excellent foundation for the entire Japanese economy.

The government's strategy is to attract international investors with the maximum freedom of cryptocurrency in this country, while the whole world will try to limit it by various means, experts say.

But there is also an opposite opinion.

There has to be more oversight and I think it may lead to more regular audits of exchanges. The FSA needs to create a level of assurance … but I can’t see it putting so much of a fence around cryptocurrency that it can’t grow.

Scott Gentry 

Founder, FreeAbound

According to various estimates, cryptocurrencies can contribute about 0.3% to the growth of Japan's GDP. The total growth of the country's GDP this year could be about 20%.

Poloniex to Suspend Operations for Few Hours

Representatives of the exchange say users' funds will be completely safe during maintenance
21 February 2019   55

The cryptocurrency exchange Poloniex has announced maintenance, which will begin on February 22 at 22 UTC. The trading platform will be unavailable for several hours.

Representatives of the exchange claim that the users' funds will be completely safe. Technical work associated with the modernization and transition "to the best data centers, which will increase the reliability of the platform and increase uptime."

Also in Poloniex noted that the trade orders of users will not be canceled.

Recall, recently Poloniex has added to the listing of privacy-oriented cryptocurrency Grin.