Many of you must be surprised to hear news that about $530 million valued of Cryptocurrency, “NEM”, were stolen at Coincheck KK, the second largest Cryptocurrency trading company in Japan.
I am sure that some of you might be embarrassed by the news.
The first, you think that typical Japanese don’t like risky investments such as investments in stock or gold etc. Japanese must love CASH!!
The second, Japanese Government is one of quite a few countries where Government regulates Cryptocurrency based on laws by FSA.
As for the first point, Japanese have bilateral characters, we love cash but also some of us tend to be crazy about Gambling.
As for the second issue, the Japan Payment Act controls arrange Transitional Measures to Cryptocurrency trading companies which would apply for the registration as “A Certified Company”.
Coincheck KK is under the transitional measures after 1st of October, 2017.
Above all, the most important to read serious of the news is that we Japanese usually call the company “trading company”. However, exact to say, the company mainly runs sell and buy many of Cryptocurrency with customers.
(This article was written in January at my other blog)