Japanese Consumer Electronics Retailer Accepts Bitcoin

Two of Yamada Denki Labi stores in Tokyo will accept bitcoin and the company plans to implement the digital currency payment option nationwide in the future
29 January 2018   739

Yamada Denki, one of the largest Japanese consumer electronics retailer, has partnered with Bitflyer to trial bitcoin payments starting on January 27. Initially, two of Yamada Denki Labi stores in Tokyo will accept bitcoin and the company plans to implement the digital currency payment option nationwide in the future.

Two directly operated stores have started accepting bitcoin: Yamada Denki Labi Shinjuku east exit pavilion and Concept Labi Tokyo. These locations have many foreign visitors, making them good test locations for the digital currency integration, the company said.

Japanese Consumer Electronics Retailer Accepts Bitcoin
Yamada Denki(LABI) Shinjuku Higashiguchikan, Tokyo, Japan

We will implement initiatives to improve bitcoin recognition and usage promotion.
With the introduction of bitcoin payment service, we respond to the diverse needs of our customers both in Japan and overseas. We believe that we can provide improved service and convenience.


Yamada Denki statement

There is a limit of 300,000 yen (~USD$2,760) for using this payment option. To commemorate the partnership, Bitflyer is giving away 500 yen to the first 500 customers paying with the digital currency using Bitflyer wallet at each store.

Through collaboration with Yamada Denki, we are contributing to improving the convenience of more customers in Japan and overseas.


Bitflyer statement

Recently, we have reported that Japanese cryptocurrency trading and exchange platform BitFlyer has acquired the payment license to operate in EU.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   114

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.