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Bitcoin While China tightens its grip on its cryptocurrency community, Japan is openly embracing cryptocurrencies and blockchain technology, legalizing bitcoin, and encouraging and funding blockchain research. Even Japan’s banks are onboard, working collaboratively to develop a blockchain platform specifically for the financial sector. With its 120 member banks, the  Japanese Bankers Association  (JBA) is creating a Collaborative Blockchain Platform and is actively looking for a company to supply its blockchain technology on an ongoing basis. Experimenting with the Collaborative Blockchain Platform, the JBA will initially determine which financial services best lend themselves to the new platform, likely including settlement/transfer services, know-your-customer (KYC) systems and financial infrastructure such as their Zengin System and Densai Net System. Japanese bitcoin exchange bitFlyer is stepping up to the plate to take on tech giants including Fujitsu, Hitachi and NT...

U.S. President Donald Trump on Friday ordered reviews of major banking rules that were put in place after the 2008 financial crisis, drawing fire from Democrats who said his order lacked substance and squarely aligned him with Wall Street bankers. Though the order was short on specifics, financial markets embraced Trump's signal that looser banking regulation is coming and pushed bank stocks higher. The Dow Jones U.S. Banks stocks index closed up 2.6 percent. [.N] At a White House forum on Friday with U.S. business leaders, including JPMorgan Chase's CEO Jamie Dimon, Trump said his administration expects "to be cutting a lot out of Dodd-Frank." That will involve a lot more than issuing an order, said former Democratic congressman Barney Frank, co-author of the 2010 Dodd-Frank Wall Street reform law that raised capital requirements for banks, restricted their trading by means of the "Volcker Rule," and created the Consumer Financial Protection Bureau to gu...