Japan Debates Its Bitcoin Tax
Japan is the only one among seven major industrialized nations to tax bitcoin. There is an increasing number of critics within the country arguing that the consumption tax hurts Japan’s competitiveness, writes Toshihisa Kinouchi of Nikkei. While Japan currently ponders deeming bitcoin and virtual currencies as currencies similar to conventional fiat currencies, there is another debate surrounding bitcoin that is being talked among regulators and politicians. Tsukasa Akimoto, a member of the Liberal Democratic Party — the ruling party in the country — put forth a question toward Finance....
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Japan recently made headlines by announcing that its government was considering defining Bitcoin and other digital currencies as currency rather than commodity. This was confirmed by Tomonori Kanda, representing the financial affairs section of the Liberation Democratic Party (LDP). He told The Guardian that the plan was to bring the matter up in Parliament. Even after the Mt. Gox fiasco, Japan recognized Bitcoin’s potential two years ago, and asked members within the Bitcoin and blockchain industry to form a self-regulatory authority called the Japan Authority of Digital Assets (JADA).....
FairDebates.com, a project dedicated to changing the U. S. Presidential debates, is now accepting bitcoin as an option for contributing to the organization's efforts to force the Commission on Presidential Debates to include independent candidates. FairDebates.com has launched a petition and is allowing supporters to contribute using bitcoin. "With thousands of liberty-minded supporters, Fair Debates is a natural fit with bitcoin," said Ron Nielson, FairDebates.com senior advisor. "Over the past several months, increasing numbers of those supporters have expressed interest in contributing....
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....