The internal affairs minister of Japan, Seiko Noda, recently denied having an interest in a cryptocurrency company under investigation – as well as interfering that investigation. The news comes from a report in Asahi Shimbun, a local outlet.
As a Cabinet minister, Noda could be now accused of trying to influence a government investigation. It all started when Noda saw that one of her aides was present at a meeting on January 30th, during which a Financial Services Agency representative explained the agency’s position on regulations (governing funds raised by cryptocurrencies and other topics).
The FSA also warned the unnamed company on January 12nd for engaging with cryptocurrency exchanges – which it was not registered to do. According to the lawsuit, such action violates the payment services law.
The FSA also demanded answers from the company and gave a deadline after which it would report the matter to investigations. Meanwhile, Noda’s office contacted the FSA – wanting to know what the agency was doing with respect to the company.
Noda’s office also said that it would permit a company representative to attend the briefing because the company consulted with her office regarding the issue. However, the name of the person requesting this meeting has been removed from the document (but is believed to be a Noda aide).
According to Noda, the purpose of the meeting was to provide an overall understanding of cryptocurrency exchanges – and said that the briefing did not constitute exerting pressure.
Crypto Exchanges In Bulgaria Are Investigated: Government Asks For 10% On Profits
Accounts Of The First Digital Bank In India Closed After Involving In Crypto-Related Activity
“I've been a user of DBS' Digibank for a year. Although I regularly used Kotak Mahindra Bank for my cryptocurrency transactions, I used Digibank only 7 times throughout the year. On January 14th, I received multiple messages from my twitter [sic] followers regarding an account closure notice by Digibank. I checked my mailbox and found the mail myself.”However, Digibank stated:
“Reserve Bank of India through their public notices have warned/advised the public regarding risks associated with virtual currencies. We reiterated the same vide our emails dated 4th May 2018 and 2nd Aug 2019, cautioning our account holders [against] the risks associated [...] and that DBS accounts and debit cards should not be used for their purchase or any kind of dealings.”Many other users responded to the allegations that not only Digibank but many other banks are doing the same as well.
BitMex Pulls The Plug On Trading Accounts In Quebec And The US
‘’The development comes at the same time as the Hong Kong-based company notifying users in North Korea, Iran, Syria, Cuba, Sudan and Sevastopol in the Crimea since the fourth quarter of 2018 against holding positions or trading on BitMEX, as these are restricted jurisdictions.’’It seems like BitMex only wants to cover its back and provide protection for their users against regulatory crackdowns. However, the exchange decided to pull the plug on the trading accounts after the Canadian regulatory body has announced the BitMex is operating illegally in Canada:
‘’BitMEX is not registered with the AMF and is therefore not authorized to have activities in the province of Quebec. We informed this company that its activities were illegal.’’There is still no explanation why the exchange decided to shut down the trading accounts in the US. Many believe that the exchange does so because of the same strict crypto regulations. We are still expecting a comment from BitMex since it seems like there is almost a billion dollars worth of crypto still on the platform.
The Revenue Agency Of Bulgaria Will Investigate Crypto-Selling Companies
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