The Japanese cryptocurrency Spindle, known for being promoted by the Japanese popular singer, actor and talent Gakuto Oshiro (45), aka GACKT, has announced it’s withdrawing from Tokyo to relocate its headquarters in London, amidst rumors that the Tokyo Metropolitan Police is investigating unregistered sales of cryptocurrencies made by the company.
Also read: J-Pop Star GACKT Caught Between Crypto Company Spindle and Minister’s Gaffe
Japan Unsuitable for Crypto Business
GACKT told news.Bitcoin.com in an interview online that there is a considerable disparity in Japan compared to overseas in regard to crypto, explaining, “Black Star&Co. decided to move to London, where it originally started, because [in Japan] it takes a tremendous amount of time for various procedures to take place. [They decided] it would not be suitable for a cryptocurrency business, which essentially needs to be speedy, to remain in such an environment.”
GACKT
Black Star&Co, the developer company behind Spindle, said it will withdraw from Tokyo to take up an office in London from August 15th, where it shall be known as Black Star Capital Ltd (UK). The company was earlier involved in a scandal that shook the Japanese Minister of Internal Affairs and Communications, Seiko Noda, accused by Japanese media of exercising pressure on a government investigation into a crypto exchange company.
In January 2018, Noda’s secretary and aide allegedly invited an agent of the Financial Service Agency (FSA) and a representative of the cryptocurrency exchange operator to her parliamentary office to ask general questions. As a cabinet minister, Noda was accused of exerting pressure on an official government investigation.
On July 19th, it was reported that the company tied to Spindle and GACKT was suspected by the FSA of violating the fund settlement law and that it had been slapped with
