Japan Regulates Virtual Currency After Bitcoin Scandal

Japan Regulates Virtual Currency After Bitcoin Scandal

Japan has passed a law regulating virtual currency, after the country found itself at the epicentre of a multi-million dollar embezzlement scandal following the spectacular collapse of the Tokyo-based MtGox Bitcoin exchange. Once one of the largest, most established exchanges for the cryptocurrency, MtGox collapsed in 2014 after a suspected theft worth nearly half a billion dollars, which hammered the digital currency’s reputation. Japanese lawmakers passed a bill late Wednesday stipulating that all “virtual currency” exchanges must be regulated by the country’s Financial Services Agency. The new law defines a…

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Japan Abandons Costly X-Ray Satellite Lost in Space

Japan Abandons Costly X-Ray Satellite Lost in Space

Japan’s space agency has abandoned its efforts to restore the operations of a multimillion-dollar satellite that was to probe the mysteries of black holes using X-ray telescopes. The Japan Aerospace Exploration Agency announced Thursday that it would stop trying to fix the satellite after determining that it was “highly likely” that its two solar arrays had broken off at their bases. Contact was lost with the satellite on March 26, more than a month after its launch from southern Japan on February 17. The satellite, named Hitomi, was much larger…

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