Many nations increased their work on central bank digital currency (CBDC) in the middle of 2022’s brutal bear market. Now, it seems that Japan is also heading on a similar path. It was recently announced that the Japan CBDC, or digital yen pilot programme, is scheduled to launch in April.
Zodia Custody, a subsidiary of Standard Chartered, and SBI Digital Asset Holdings have come to an agreement to form a joint venture in Japan that would serve as a custodian for crypto assets for institutional customers in Japan. SBI Digital Asset Holdings (SBI DAH) and Zodia Custody, which has the
Financial Services Agency (FSA) of Japan Deputy Director-General Mamoru Yanase has called for more worldwide controls on the cryptocurrency sector. According to him, cryptocurrency exchanges need to be regulated like traditional financial institutions. Moreover, Yanase argues that authorities may avoid another crypto platform collapse by treating them like banks. The
There has been a recent uptick in the number of game developers interested in including metaverse features. Japanese mobile entertainment provider Gumi has established a strategic partnership with other Japanese firms Square Enix and SBI Holdings. Through the issuing of additional shares with a value of $52.7 million. SBI Holdings
Despite the bleak crypto market environment and the collapse of FTX, the government of Japan has agreed to make listings by cryptocurrency exchange in the nation simpler. Japan is relaxing its strict crypto laws even as the ripple effects of FTX’s downfall are still being felt across the industry and
Japanese authorities are reevaluating their stance on a number of key regulations. Pertaining to the usage of stablecoins like Tether USDT in the cryptocurrency market. Nikkei, a Japanese news outlet, stated on December 26. That the Financial Services Agency (FSA) of Japan will allow the domestic circulation of foreign-issued stablecoins
The Japan Blockchain Association’s 4th annual Blockchain Award presented the Product of the Year award to Astar Network, the multichain smart contract platform. At the same event, Sota Watanabe, the founder, and CEO of Astar Network, received Person of the Year for a second straight year. In a survey conducted
On Friday, a member of Japan’s governing Liberal Democratic Party (LDP) announced that the LDP’s tax committee has endorsed a plan to exclude crypto businesses that issue their own tokens from paying corporation taxes on unrealized profits. The idea will be included in yearly tax policy guidelines presented to the
Binance, the leading cryptocurrency exchange, has entered the Japanese crypto market with the takeover of a regional trading platform, Sakura Exchange BitCoin (SEBC). According to the recent announcement from Binance, it has acquired 100% of the Osaka-based SEBC exchange, which is authorized by Japan’s Financial Services Agency (FSA). With the
There has been a series of recent occurrences in the world of cryptocurrencies. Because so many investors were drawn to the market, governments had to reevaluate the regulations that had previously been applied. There were still authorities trying to enforce the restrictive regulations that had been enacted by others. However,
