Bank of Japan’s Kuroda Shocks Markets by Raising the Benchmark Rate to 0.5% From 0.25%
The Japanese yen is up 3.42% against the U.S. dollar on Tuesday as the Bank of Japan surprised the world by deciding to allow the benchmark interest rate to rise…
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Japan to Enforce Less Stringent Crypto Tax Rules
The Japanese government greenlighted a bill to exempt local cryptocurrency issuers from paying corporate tax on their holdings. The ruling body currently requires such firms to pay 30% on their…
Japan set to ease 30% crypto tax on paper profits for token issuers
As it stands, Japanese crypto issuers are required to pay a set 30% corporate tax rate on their holdings, even if they haven’t realized a profit through a sale.
FTX Japan Has Until March 2023 to Cease All Operations (Report)
The Japanese authorities reportedly extended the business suspension order to FTX Japan until March 9, 2023. Initially, the company had to cease all services on December 9. According to recent…
FTX reportedly gets 3 more months to stop all operations in Japan
Japanese authorities have postponed FTX Japan’s suspension deadline because the firm has so far failed to return assets from custody to creditors.
Japan’s Sumitomo Mitsui to issue soulbound tokens to explore Web3
Japan’s financial giant Sumitomo Mitsui Financial Group is experimenting with soulbond tokens to satisfy new social needs.
Japan recommends against algorithmic backing in stablecoins
The potential legal status of the Japanese Financial Service Agency’s recommendation is not clear as the current legislation is silent on algorithmic stablecoins.
Binance Acquires Licensed Japanese Crypto Exchange — Prepares to Enter Japan as Regulated Entity
Cryptocurrency exchange Binance has acquired a regulated Japanese cryptocurrency exchange and is now preparing to enter the Japanese crypto market as a regulated entity. “The Japanese market will play a…
Binance Strengthens Japanese Presence, Acquires a Locally Regulated Exchange
Crypto exchange Binance announced the acquisition of Sakura Exchange BitCoin (SEBC) for an undisclosed sum. The latter is a Japanese crypto exchange that is regulated by the country’s Financial Services…
Crypto Exchange Bitfront Shuts Down Amid Industry Challenges
Cryptocurrency exchange Bitfront has announced its intention to cease operations in the coming months, citing challenges facing the industry. The U.S. trading platform, backed by Japan’s social media giant Line,…
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