The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Japan Eyes Development of SWIFT-Like Platform for Cryptocurrencies: Report

by Daily Hodl Staff
July 18, 2019
in Regulators

While world leaders are facing the threat of Libra and Facebook’s massive userbase of 2.5 billion, enough to transform the entire global financial system seemingly overnight, Japan is spearheading the development of a SWIFT-like network for cryptocurrency, reports Reuters.

Similar to the SWIFT network used by banks, the new international crypto-based platform would allow banks to track transactions and more effectively fight money laundering.

Set to launch in the next few years, it would be monitored by a team related to the inter-governmental Financial Action Task Force (FATF).

Given the decentralized nature of cryptocurrencies which run on public blockchains, however, it remains unclear how the system would conduct its surveillance.

Meanwhile, the world’s financial leaders are moving in concert to stay ahead of the Libra threat. Gathering at the G7 conference in France on Wednesday, Italy’s finance minister told Reuters,

“There’s widespread concern and a decision that this concern should translate into action… to control what’s going on.”

The news outlet reports that a source said there was “a very large consensus on the need to act quickly” in response to the changing landscape of money and global payments and with Facebook’s looming entry into the industry.

Japanese Finance Minister Taro Aso is initiating plans for a comprehensive assessment of Facebook’s Libra.

Said Aso following the first day of the G7 gathering,

“Applying existing regulations alone may not be enough. A comprehensive examination is needed to see if Libra poses new challenges that existing rules do not take into account…

On the other hand, authorities need to respond in a timely fashion so they’re not behind the curve.”

[the_ad id="42537"] [the_ad id="42536"]
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Shheikh.io Launches SHHEIKH Token Presale for Blockchain-Backed Real-World Asset Investments
    June 30, 2025
  • Pi Network Unveils AI-Powered App Studio and Ecosystem Staking Features on Pi2Day 2025
    June 30, 2025
  • DWF Ventures Report Reveals $76 Billion Crypto Treasury Investment by Public Companies
    June 27, 2025
  • Bybit Expands Global Reach With Credit Card Crypto Purchases in Over 25 Currencies and Cashback Rewards
    June 27, 2025
  • BYDFi Joins Seoul Meta Week 2025, Advancing Web 3.0 Vision and South Korea Strategy
    June 27, 2025
  • The Rise of AI Beings – CARV’s New Roadmap Signals Next Wave of Web 3.0 AI
    June 26, 2025
  • Weed® Announces Partnership With Khalifa Kush, Launches Global Commercialization
    June 26, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$107,347.76
$107,347.76
0.67%
Ethereum
$2,492.71
$2,492.71
0.42%
BNB
$657.85
$657.85
0.75%
Solana
$155.48
$155.48
1.04%
XRP
$2.27
$2.27
2.59%

Spotlight

  • Hacking Group Targets Insurance Giant Aflac – Personal and Medical Data May Be at Risk: Report
    June 23, 2025
  • Rich Dad Poor Dad Author Says ‘Biggest Crash in History’ Approaching While Baby Boomers Lose Retirements to Inflation
    June 23, 2025
  • Trader Issues Warning to Bitcoin Top-Callers, Says BTC Still in Stage One Uptrend – Here’s What He Means
    June 23, 2025
  • Walmart Ordered To Pay $10,000,000 After Retail Giant Allegedly ‘Turned a Blind Eye’ to Scammers Exploiting Customers
    June 23, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl