Japan Mulls Bitcoin Tax Following Mt. Gox Failure
Japan is taking the Mt. Gox collapse seriously and is already looking into measures to address the digital currency conundrum - one of which is to levy taxes on bitcoin transactions. According to the Yomiuri Shimbun newspaper, Japan's ministry of finance and the national tax agency are studying "possible rules" that could govern digital currency transactions. It appears that Japanese authorities think purchases made with digital currencies could be subject to existing consumption and corporate taxes. Even though bitcoin is not recognized as an official currency according to the law, it can....
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BREAKING: According to Reuters, Japan will not regulate Bitcoin in the nearest future. Japan's Liberal Democratic Party has decided to go against Bitcoin regulation in the aftermath of the Mt. Gox failure. Bitcoin has been under scrutiny by the authorities in Japan, the temporary conclusion by the Liberal Democratic Party is therefor somewhat surprising. The Liberal Democratic Party lawmaker Takuya Hirai, who leads the party's internet media division, said on Thursday: Basically, we concluded that we will, for now, avoid a move towards legal regulation. He also told that a final decision....
Japan and Portugal announce approval of new cryptocurrency exchanges in the nations. Portugal has approved two exchanges so far, while Japan has allowed Coinbase to function within the country. Japan Approves Coinbase Coinbase can finally start operations in Japan as the country’s top financial regulator has approved the organization within the nation. As of this […]
3 September 2021, OKCoin Japan Exchange announces its official listing of IOST. The listing of IOST on OKCoin Japan marks IOST’s next important milestone in its global expansion and adoption. Specifically in Japan, in 2020, IOST has been approved by Financial Services Agency (FSA), the Trading platforms supervision Alliance in Japan, successfully become the 14th […]
The parliament of Japan has approved a draft law tailored to regulate stablecoins in the country and protect investors. The new legislation is among the first to be introduced after the recent collapse of the algorithmic stablecoin terrausd.
Law on Stablecoins Approved in Japan in Aftermath of UST Collapse
Lawmakers in Japan have passed a bill designed to determine the legal status of stablecoins. The authors of the legislation have effectively defined these cryptocurrencies as digital money, Bloomberg reported following the vote on Friday.
With the new law, Japan....
Opposite to the downtrends of crypto prices, web 3 developments continue to make headlines almost daily. Following the UAE’s initiative to make the Emirates a metaverse and web 3 technology centre, Japan officially enters the web 3 zone. Fukuoka, the second-largest port city in Japan, has secured a partnership with the Astar Japan Lab to […]