Japanese Tax Authorities Push for New Crypto Regulations

Crypto-related businesses and individuals have failed to report crypto gains valued at 10 billion yen ($93 million), according to Japanese Tax Authorities. Asahi Shimbun reported that 30 companies and 50 individuals are being investigated for failure to account for astonishing profits made from cryptocurrency trading over a period of several years. This figure is linked…

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Over 50 Banks, Firms Trial Trade Finance App Built With R3’s Corda Blockchain

ABN Amro, Standard Chartered, ING and around 50 other banks and companies have participated in tests of a trade finance application called Voltron. The open industry platform was initiated by eight founding member banks with the aim of improving the trade finance process by simplifying letter of credit transactions to deliver speedy settlement times and…

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A Glimpse of Banking’s Future, Live on the Ethereum Blockchain

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. At first glance, this week’s move by the investment bank Societe Generale to issue a security…

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Top 3 Japanese Bank to Roll Out Services on Marco Polo Blockchain

Sumitomo Mitsui Banking Corporation (SMBC), Japan’s third-largest bank by total assets, will launch blockchain-based trade finance services in the second half of this year. SMBC’s vice chairman Yasuyuki Kawasaki announced the news at a recent fintech seminar in Tokyo, saying that the bank will roll out new services for import and export companies using the…

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Societe Generale-Owned Bank Launches Blockchain ETN

Kleinwort Hambros, a Societe Generale-owned private bank and wealth manager, has launched an actively managed exchange-traded note (ETN) targeting the blockchain sector. The London-based bank announced the news on Monday, saying its Luxembourg-listed ETN will invest in companies that could “profit most” from the development and increasing uptake of blockchain technology. ETNs are unsecured debt securities that,…

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Blockchain Mortgage Tech Startup Acre Software Raises $6.5 Mln From UK Financial Advisor

United Kingdom startup Acre Software raised about $6.5 million to apply blockchain technology to the mortgage and insurance application process for advisers, a press release published on April 4 states. Per the release, nearly three-quarters of UK mortgages are facilitated by advisers, and the company aims to help them retain their position by matching the…

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