Cryptocurrencies

Japan plans to take most government paperwork online, streamlining cumbersome processes blamed for delayed payments of pandemic assistance, in an ambitious digital revolution it aims to complete in a year.

Japan's three megabanks look to link their digital currencies to East Japan Railway's popular Suica smart transit card, hoping to expand their customer bases by improving convenience.

The heads of six central banks and the Bank for International Settlements in mid-April will hold their first meeting on developing their own digital currencies, which can serve as alternatives to Facebook's Libra or the digital yuan.

Central banks in Japan, Europe and Canada are taking a joint look into issuing digital currencies in their home jurisdictions, hoping to offer a convenient and safe alternative to Facebook's Libra or the digital yuan.

Mitsubishi UFJ Financial Group, Japan's largest bank, plans to launch a mobile payment service with staffing company Recruit Holdings using the bank's digital currency after regulatory constraints stymied its solo plans.

Mike Kayamori, the co-founder and CEO of Liquid Group Inc., spoke about how blockchain technology is changing society and associated global trends at The Japan Times Advanced Technology Forum held in Tokyo on May 31. The forum was supported by the Ogasawara Foundation for the Promotion of Science and Engineering as one of its subsidized projects.

Line Corp., the nation’s largest messaging app, is close to obtaining a license to launch a cryptocurrency exchange in Japan, according to people familiar with the matter.

Japan will deploy about 200 specialists to detect undeclared income gained from cryptocurrency trades, monetized videos and other new economy staples, the country's tax authority said Wednesday.

Major banks in Japan, the U.S. and Europe are developing a blockchain-based digital coin that can be used to instantly settle overseas money transfers instantly, lowering transaction costs by cutting out intermediaries.

The Group of 20 major economies plan to agree on compiling additional steps by 2021 against money laundering and funding of terrorist groups through the use of crypto-assets, sources close to the matter said Saturday.