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,
Japan’s Financial Services Agency (FSA) has reportedly ordered the local branch of FTX to shut down, according to a statement issued on Thursday. The decision states that effective immediately, FTX Japan is to discontinue all operations as a cryptocurrency exchange. Including the acceptance of new customers, and will not resume
To help it realize its vision of becoming Japan’s Web3 hub, Fukuoka, Japan’s second-largest port city and a National Special Strategic Zone, has partnered with Astar Japan Lab to develop local Web3 use cases. On October 13 during the “Myojo Waraku 2022” conference in Fukuoka, the partnership was revealed by
A legal framework governing cryptocurrencies was first adopted in Japan. After Terra Luna collapsed in 2022, a bill was passed allowing licensed banks to use stablecoins. The Japanese government endorsed a cabinet decision to revise six laws related to the Foreign Exchange Act to resist money laundering. The bill tightens
The alert was given in a document published on Saturday by the National Police Agency. The North Korean Lazarus hacking gang is now utilizing false job postings. Japanese officials have issued a warning, citing intelligence that the Lazarus group of North Korea is specifically targeting firms in Japan. Especially that
Kishida said the country would expand the use of Web3 services. Japan has decided to strengthen an existing money laundering regulation. In a policy speech on Monday, Japan’s Prime Minister Fumio Kishida announced his intention to boost developments in Non-fungible tokens (NFTs) and the Metaverse. According to Kishida, the country
