• NYDFS approves yen stablecoin
    Alt coins,  Regulation

    In U.S. first, New York regulators approve yen-backed stablecoin

    With the New York Department of Financial Services’ approval, Japanese IT giant GMO Internet Group will also issue a dollar-backed stablecoin

    The company has been granted a New York State charter to operate as a limited liability trust company by the Department of Financial Services, according to Linda Lacewell, the Superintendent of Financial Services.

  • Yen vs bitcoin
    Bitcoin,  Cryptocurrencies,  Innovators

    Japanese technology giant will pay part of employee salaries in bitcoin

    The program lands somewhere between a company PR push and a cryptocurrency awareness campaign

    A Japanese tech conglomerate called GMO Internet will be paying a portion of its employees’ salaries in bitcoin starting next month. The initiative is open to some 4,000 employees who, if they choose to, can receive up to 100,000 yen (that’s about $900 USD) of their income in bitcoin per month. GMO Internet is a multifaceted company with diverse interests that include cloud computing and advertising technology, but it has been shifting its focus toward cryptocurrency for many months. The firm began operating a cryptocurrency exchange in May, and even started its own bitcoin mining operation shortly after that. It clearly wants to figure out how to best harness this…