Japan Tightens Crypto Regulations With Proposal for Compensation Reserves Ami...
Japan is taking decisive action to strengthen investor protection in its rapidly growing crypto sector. Related Reading: Analyst Predicts 430% PEPE Price Rally If This Level Holds The country’s Financial Services Agency (FSA) is preparing a sweeping regulatory overhaul that would require crypto exchanges to maintain mandatory liability reserves, funds specifically set aside to compensate […]
Related News
Per a report from Bloomberg, crypto investors in Japan might soon benefit from a change in the country’s regulation. The Japanese Financial Service Agency (FSA) has filed a proposal that would grant benefits to individual and corporate investors in the digital asset sector and the legacy financial sector. Related Reading: Hodlnaut Under Creditor Protection Following […]
Data shows Bitcoin and Ethereum exchange reserves continue their downtrend as the supply shock tightens its grip. Bitcoin And Ethereum Exchange Reserves Trend Downwards As pointed out by a crypto trader in a tweet, both Bitcoin and Ethereum continue to experience a decline in their exchange reserves. The exchange reserve of an asset is an […]
The proposal calls for a separate 20% tax on crypto earnings and exemptions of any tax on crypto gains, with losses carried forward for up to three years. The Japan Crypto-Asset Business Association (JCBA) and the Japan Crypto-Asset Exchange Association (JVCEA), the two prominent crypto advocacy groups in Japan, released a tax reform request that calls for lowering taxes for individual investors on crypto earnings. The fiscal 2023 tax reform request addressed key issues that the advocacy groups believe act as a hindrance to crypto adoption in the country. The proposal focused on the need....
As many may already be aware, July 17, 2014, the New York Department of Financial Services (NYDFS) issued its proposal for the regulation of virtual currencies (Proposed Regulations).¹. At this point, the Proposed Regulations are exactly that - a proposal. There is a 45-day period of public comment, after which the NYDFS may or may not consider the comments it receives. Then, with any revisions that NYDFS deems necessary, the Proposed Regulations will become final and official. Understandably, there has been quite an uproar about the Proposed Regulations among the virtual currency world,....
According to IndieSquare Co-founder Koji Higashi, new regulations in Japan, which will make Bitcoin an official form of payment, may do more harm than good for the fledgling industry in the country. Japan to Introduce Own ‘Bitlicense’. Following the disastrous demise of the infamous Japanese exchange, Mt. Gox and the arrest of its CEO Mark Karpelès, regulators in the country decided to introduce regulations for Bitcoin. The regulatory framework has been in the works for over two years. The first bill was submitted to the Diet in Japan (the legislature consisting of the Lower and the Upper....