Crypto Exchange Giant Kraken Completes Japan Return + More News

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023 06:54 EDT

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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Exchanges news

• Kraken has officially opened its new Japanese exchange under the umbrella of its Tokyo-based Payward Asia subsidiary. Per an official Kraken blog post, customers can start creating accounts from today, although fiat deposits in JPY and transactions will begin “in late September or early October.” The firm stated that it would inform customers when it was ready to allow them to start trading on the platform. Kraken closed down its Japanese operations over two years ago, but now says that late 2020 is the “right time” for a return.
• Grant Thornton, the liquidator of New-Zealand based cryptocurrency exchange Cryptopia, said that it expects the claims registration process to be open by the end of the year. The liquidator added that once they have finalized the claims process they will be in touch with coin holders via official channels around registering their claim.
• Bitfinex won additional 90 days to provide documents in a case filed last year by New York Attorney General Letitia James that claims that it hid the loss of commingled client and corporate funds, Bloomberg reported. New York state Judge Joel M. Cohen said he’d defer to the referee in determining which documents related Tether (USDT) are pertinent to the case, it added.

Crypto mining news

• The government of Abkhazia is set to overturn a recent ban on crypto mining, instead choosing to “regulate” the sector, per Finanz.ru. The de facto state’s energy provider this week claimed that an “energy crisis” was on its way as a massive deficit, caused by scores of miners setting up shop in Abkhazia, could threaten to derail the national grid later this year.

Libra news

• Major blockchain investment firm Blockchain Capital said it has joined the Libra Association as they “believe deeply in the mission of creating a more equitable payment system.”

Blockchain news

• The General Insurance Association of Japan and conglomerate NEC are to conduct a blockchain technology-powered pilot for a paperless document exchange platform, per Nikkei. The association is an industry body that represents the nation’s licensed general insurance companies. Member firms are hopeful that NEC-powered solutions will allow them to process claims and exchange documentation without the need for sending forms by mail. Eight firms, including industry giants Mitsui Sumitomo Insurance and the insurance arm of the Tokio Marine Holdings business group, will participate in an initial testbed launch.
• VeChain (VET) said it has joined the China Animal Health And Food Safety Alliance as one of the council members. It claims that it will be the sole public blockchain technology provider in the alliance, providing technical and infrastructural support for the council members.