Japan’s Top Banks Join Crypto Exchange-Led ‘Study Group’ to Discuss Digital Payment System

  • Three Japanese banking industry heavyweights are joining arms in a study group to focus on digital payment settlement networks in the country.
  • The study group is led by local cryptocurrency exchange, DeCurret Inc., giving possible hints of a crypto integration.

Top Japanese banking institutions, Mizuho Financial Group, Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group (MUFG), alongside experts and industry leaders in Japan joined a study group to look into digital payment systems.

The group will meet once or twice a month from June to September this year chaired by former head of the Payments and Settlement systems, Bank of Japan (BoJ) and current director at Future Corporation, Mr. Hiromi Yamaoka.

DeCurrent Inc., released a statement dated June 3, 2020 outlining the key agendas of the meetings including digital payment systems, application of distributed ledger systems in the economy and digital currency settlement platforms within Japan.

The wide scale penetration of digital payment services and blockchain in Japan is remarkable. Ripple Inc.’s partnership with SBI Holdings has seen a number of big banks take on blockchain development including Fukushima Bank and SFMG. The study aims at coming up with a standardized version of these systems and blockchain infrastructure. The statement further noted,

“The purpose of this study group is to examine and discuss challenges and solutions concerning digital currencies and digital settlement infrastructure, to find a consensus toward their realization, and to present a direction for standardizing services and infrastructure.”

Other top firms that will join the group include the East Japan Railway Corporation, KDDI Corporation and Mori Hamada & Matsumoto in Tokyo. Japan based blockchain firm, Accenture Japan Ltd. and SIGMAXYZ Inc. will act as cooperating companies.

The study, once published, will be sent to the observant teams from the Ministry of Finance, Ministry of Trade, Economy and Industry, the Financial Service Authority (FSA) and the Bank of Japan.

DeCurret launched operations back in 2018 gaining approval to launch in Japan, and in March the following year, from the FSA. The license allows the exchange to carry out digital payment services and trading in the country.

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Author: Lujan Odera

Cardano Allowed to Join CDF to Participate in Promoting Regulatory Guidelines

Cardano-Allowed-to-Join-CDF-to-Participate-in-Promoting-Regulatory-Guidelines

Cardano Foundation is the latest highly-ranking company to join the Global Digital Finance (GDF). By joining the famous industry membership body whose core mandate is to preach about the need to embrace the best practices on crypto assets, Cardano expects to be part of the push.

According to the official announcement, Cardano was reportedly granted membership on Thursday having gone through every single step companies go through to be admitted. In the end, the Global Digital Finance, through their Twitter outlet, welcomed Cardano.

CDF Works Hard to Promote Adherence to the Best Practices for Cryptoassets

Global Digital Finance, or simply GDF, as it is popularly called, is an industry membership body based in London. It mostly creates a full code of conduct and work principles that govern token sales, tokenization platforms, funds as well as fund managers. The body also reviews members’ websites to ensure that they are always complaint with a particular set of standards.

GDF, however, doesn’t operate like a dormant organization in the crypto industry. With Teana Baker-Taylor as its Executive Director, Global Digital Finance regularly participates in popular meetups and discussions in the industry.

In fact, Baker-Taylor is set to be a panelist at the Barcelona Trading Conference slated for later this year. Others on the panel will include Rivver’s Samuel Katz, Agada Nameri from 21M Capital and the founder and CEO of Cytexlabs, Tomar Weiss. One of the key points they’ll be discussing is the legal landscape in the industry.

Being Part of Those Setting the Rules in the Industry

For Cardano Foundation, however, GDF isn’t the only organization is has joined. It is firmly in a host of GDF-allied working groups, especially those that are involved in all-things KYC/AML, custody, Stablecoins and all issues relating to security tokens. Cardano is also keen on being part of organizations working hard to promote integrity in the market and tax treatment.

Speaking after getting admitted to GDF, Cardano’s director of global PR, communications, and marketing, Bakyt Azimkanov said they would use the newfound collaboration to help further the body’s quest to create the best practices. He said Cardano Foundation would help strengthen the group’s ongoing push to initiate robust governance policies and improve the crypto asset market develop.

Cardano Foundation, alongside IOHK and EMURGO, is working hard to develop the Cardano blockchain further. The Foundation is also working hard to expand its reach and attract more crypto enthusiasts into its ecosystem.

Cardano’s founder, Charles Hoskinson, is optimistic that their project could even dwarf Facebook once they release their Blockchain products. At the moment, Cardano is banking on its partnership with AlgoZ to boost the liquidity of its native coin, ADA.

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Author: Lillian Peter

WAVES Price Prediction Today: Daily (WAVES) Value Forecast – June 5

Waves-is-Looking-to-Raise-a-Whopping-USD-120-Million-Via-its-Private-Funding-Round
  • WAVES/USD trade has been moving in a consolidation manner to the south.
  • Placing or joining the WAVES/USD market now seems to call for an indecision trading psyche.

WAVES/USD Medium-term Trend: Bearish

  • Distribution territories: $2.80, $3, $3.20
  • Accumulation territories: $2, $1.80, $1.60

Waves price valuation hasn’t been able to come out of the slight selling pressure been exerted on it by the US dollar. As at now, the market movements to the south have been slowing down around the Bollinger Lower Band’s trend-line.

The 50-day SMA is located over the Bollinger Middle Band with a small space between them. The Stochastic Oscillators are now consolidating around range 20 to indicate that the downward market movement seems not to have been exhausted fully.

The cryptocurrency may soon begin a pull-up moving style to find a price point around the Bollinger Middle Band and the 50-day SMA that could suit the bears’ entry once again.

WAVES/USD Short-term Trend: Ranging


In the short-term run of the WAVES/USD market, price line has been dominated by a different number of lower lows than lower highs. The reason for that is justifiable by the fact that most of the crypto’s trading operations have been carried out below the trend-line of the 50-day SMA indicator.

The Bollinger Bands are as well flatly trending toward the east direction. The Stochastic Oscillators now attempting to crosshairs at range 40.

The market may continue to rise and fall in a range moving manner as long as the 50-day SMA is located over the market trading area. However, a break out of the SMA indicator could be an important notification that the bears would be losing out in energy in near time.

Waves:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M