Southeast Asian traders and investors have been heavily involved in the crypto sector. The amount of trading on Japanese exchanges increased by more than 60 percent last month compared to the start of 2023. Recent analysis from Kaiko attributes the increase in volume to yen market instability. The yen’s value
SBI Group, a prominent financial service giant in Japan, has taken a major step into cryptocurrency trading. Through its subsidiary, SBI VC Trade, the company has announced plans to offer trading services for Shiba Inu (SHIB), a digital currency inspired by Dogecoin. ／今日から３銘柄の取扱い開始📣シバイヌ(SHIB)、ダイ(DAI)、コスモス(ATOM)＼ SBI VCトレードでの取扱い暗号資産は全部で【２０種類】になりました✨ ＜７月から提供開始予定＞・DAIのレバレッジ取引・ATOMのステーキングhttps://t.co/qfOmiKw716 pic.twitter.com/pnX7UOK9dB — SBI VC
Startale Labs Pte Ltd, a Web3 tech business that builds multichain apps and infrastructure, has received $3.5 million in investment from Sony Network Communications Inc. via a private issue of new shares. Startale Labs and Sony Network Communications will also look at prospects for extensive commercial partnerships with the common objective
The Japanese National Tax Agency is relaxing its position on taxing crypto assets for companies operating in Japan. To make it simpler for cryptocurrency-related businesses to operate in Japan. The tax administration has reportedly announced that unrealized profits from cryptocurrencies produced by corporations themselves would no longer be taxed. Taxation
The largest bank in Japan, Mitsubishi UFJ Financial Group Inc (MUFG), is in negotiations with worldwide stablecoin issuers to create its tokens on its own blockchain network. Moreover, Japan’s stablecoin legislation, which permits licensed banks, trust organizations, and authorized money transfer agents to issue these cryptocurrencies, went into force on
Industry participants seek to allow leverage of four to 10 times for retail players, according to the Japan Virtual & Crypto Assets Exchange Association (JVCEA). Customers may now only borrow twice as much as they are risking. Regulators in Asia have been seeking to introduce crypto-friendly policies to allow more
Mitsubishi UFJ Financial Group (MUFG), the biggest financial institution in Japan, has announced that it would utilize the Progmat Coin platform to produce locally backed stablecoins across public blockchains. Ethereum, Avalanche, Cosmos, and Polygon will all be used to issue stablecoins. Progmat Coin, it was said, is built to work
While the global cryptocurrency market expands, XDC Network has reached an important turning point with its recent strategic partnership. The hybrid blockchain ecosystem has confirmed its collaboration with crypto assets management firm SBI Group’s subsidiary — SBI VC Trade. こんにちは https://t.co/M9Hh5NQjCm — Atul Khekade (@atulkhekade) May 31, 2023 Significantly, the
To keep in line with other countries in the region. Japan is anticipated to enact additional anti-money laundering measures to better monitor crypto transactions. According to Japan Today on Tuesday, the country’s government plans to apply the new restrictions on June 1, which would see the implementation of what is
As part of its strategy to shift its emphasis from retail to institutional clients, Bloomberg reports that Singapore’s Amber Group is contemplating selling its Japanese operation. Annabelle Huang, the managing partner at Amber, said the company is exploring alternatives, including a sale, for its Japan division. A “very high quality
