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[NEWS BLOG]: Messaging Giant LINE Wins Japan License for Crypto Exchange Business

LINE, provider of Japan’s most popular messaging app, has just been approved for a cryptocurrency business license in the country.

The news, reported by CoinDesk Japan on Friday, means it will be able to offer its crypto exchange services in Japan where it has 80 million monthly active users. The new platform is to be called BitBox, according to the company.

The license was awarded by Japan’s Financial Services Agency, which indicated on its website that the registration was completed on Sept. 6 in the name of LVC Corp., which oversees LINE’s digital asset and blockchain business units.

LINE President Takeshi Dezawa also disclosed completed FSA - read more.


OTHER RELATED NEWS

This Crypto Could Rally 40% in Coming Days After a Highly Bullish Breakout

The aggregated crypto market saw a notable rally today that was led by Bitcoin’s surge past the heavy resistance it was facing at $7,000. This allowed altcoins like Tezos to gain some independent momentum, with XTZ significantly outperforming BTC.

This momentum seen by Tezos may be just be a hint of what’s coming in the days and weeks ahead, as analysts are noting that it broke above a key horizontal resistance that may give it room to rally further.

The altcoin was also able to break out of a bullish technical pattern that it had been establishing, leading analysts to - read more.

Bitcoin Price (BTC) Breaks Down, Turns Sell On Rallies

  • Bitcoin price failed to climb higher and declined sharply below $10,000 against the US Dollar.
  • The price is now trading well below the $10,000 level and it could struggle to recover in the near term.
  • There was a break below a contracting triangle with support at $10,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price is under pressure and it is likely to decline further towards the $9,500 support.

Bitcoin price is back in a negative zone below $10,000 against the US Dollar. BTC is facing uphill task and it might face - read more.

Manny Pacquiao launches his own fan-backed cryptocurrency

Champion boxer Manny Pacquiao announced the launch of his own cryptocurrency at a concert in Manila on Sunday.

The cryptocurrency, called the Pac, will allow fans to buy merchandise and interact with Pacquiao -- the 40-year old boxer, Filipino Senator, and former basketball player -- via social media. 

The Pac behaves like a normal cryptocurrency in the sense that it provides a digitally tradeable token with a floating value secured by a decentralised ledger. But unlike other cryptocurrencies such as Bitcoin, the value of the Pac is touted as being backed by demand from Pacquiao's fan base for his merchandise. 

The Pac - read more.

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