Japanese ruling party pushes for crypto tax reforms
LDP which is the ruling party of Japan wishes to execute “immediately ”the crypto reforms acts. According to an official LDP press release, it was the first time for LDP’s web3 team to come up with the “White Paper” on April 12. In February, the authorities proposed to open doors for local firms involved in […]
Sony Bank Launches Stablecoin Pilot Project on Polygon Blockchain
Sony Bank, a banking division of the Japanese entertainment and gaming conglomerate, has begun a pilot to make its own stablecoin linked to fiat currency, Nikkei reported. The experiment is set to occur on the Polygon blockchain. Sony’s Stablecoin Experiment on Polygon The report statement asserts that Sony is exploring stablecoins to drive the firm’s […]
What exactly is going on with Japan’s central bank and interest rates?
For so many years, Japan has been like a lab experiment for economists, because it perfectly shows exactly what happens when you push financial policies to their limits. Now, as the Bank of Japan (BoJ) considers hiking rates for the first time since the steamy summer of 2006, everyone’s shaking with anticipation. Are they actually […]
GameFi community pleads for regulatory relief in Japan
Representatives from Japan‘s burgeoning blockchain gaming community have approached the Liberal Democratic Party (LDP) with urgent concerns regarding liquidity in the country’s crypto asset market. The move comes amidst fears that stringent regulations are stifling growth and hampering the flourishing GameFi ecosystem. Japanese GameFi sector appeals to lawmakers Ryo Matsubara, director of Oasys, a prominent […]
Japan advances legislation to enable investment funds to hold crypto assets
In a significant development signaling Japan’s evolving stance on cryptocurrencies, Prime Minister Fumio Kishida’s administration has made strides towards allowing venture capital firms and investment funds to hold crypto assets directly. The move aims to amend Japan’s Industrial Competitiveness Enhancement Act to accommodate digital assets as eligible investments for investment limited partnerships commonly utilized by […]
Japan Intensifies Oversight on Crypto Transfers to Curb Unlawful Activities
In a decisive move to clamp down on financial crimes leveraging cryptocurrency, Japan’s Financial Services Agency (FSA) has issued a directive urging financial institutions within the nation to fortify their monitoring mechanisms against “unlawful” transfers to crypto exchange providers. This initiative, rooted in concerns over specialized fraud and illegal money movements, signifies a pivotal moment […]
Crypto gains momentum in Japan with Mercari’s Bitcoin integration
In a significant move towards furthering the adoption of cryptocurrency, Mercari, one of Japan’s largest consumer-to-consumer e-commerce platforms, is set to allow users to purchase products listed on its flea market app using Bitcoin (BTC). The integration of Bitcoin as a payment option is expected to commence in June and will be facilitated through Mercari’s […]
Progress of Generative AI in Japan Surges After an Initial Lull
In a transformative turn of events, generative artificial intelligence (AI) has surged to the forefront of Japan’s technological landscape, capturing the attention of business leaders and public officials alike. Japanese tycoon Masayoshi Son, founder of SoftBank Group, has declared the era of AI revolution, urging industry players to embrace this cutting-edge technology. While Japan has […]
Bank of Japan reveals major economic policy change
Amidst a shifting economic landscape, the Bank of Japan (BoJ) is poised to revise its long-standing monetary policy, signaling a potential shift from the ultra-easy monetary stance that has characterized its approach for years. This move, as indicated by BoJ Governor Kazuo Ueda, hinges on the increasing likelihood of Japan sustainably achieving its 2% inflation […]
Japan ends crypto tax on unrealized profit: Details
In a recent cabinet meeting on December 22, the Japanese government unveiled a crypto tax reform outline for fiscal 2024, bringing notable changes to the taxation of corporations holding crypto assets. The Japan Crypto Asset Business Association (JCBA) requested a reform that has eliminated the period-end mark-to-market valuation tax previously applied to corporations holding third-party-issued […]
Bank of Japan’s exit strategy for interest rates
In the intricate tapestry of global finance, the Bank of Japan (BoJ) stands at a critical juncture, poised to maintain its negative interest rates policy at its upcoming meeting. Yet, investors and market observers are keenly anticipating any signals of a future policy shift. BoJ Governor Kazuo Ueda is at the helm of navigating this […]
Asia Hedge Funds Ride High on Japan Rebound and AI Surge, Dodging China Turmoil
In a year marked by economic uncertainties and geopolitical tensions, Asia hedge funds have managed to steer clear of the tumultuous Chinese investment landscape. The real news lies in their strategic moves tied to Japan’s resurgence and the flourishing AI-driven technology sector. As Asia-focused funds celebrate a significant performance improvement, this narrative delves into the […]
Japan to reform tax laws on long-term crypto holdings
In a significant move, Japan is set to overhaul its taxation policies regarding cryptocurrencies. Under the new regime, businesses holding cryptocurrencies as long-term assets will be exempt from taxes on unrealized gains. This decision, spearheaded by Japan’s Liberal Democratic Party and its coalition partner Komeito, aims to align the country’s fiscal approach with the evolving […]
China, S. Korea, Japan to collab on blockchain and AI regulations
The digital age is witnessing a new era of collaboration in Asia. China, alongside its regional counterparts Japan and South Korea, is embarking on a groundbreaking journey to strengthen cooperation in the realms of big data, blockchain, and artificial intelligence. This initiative, spearheaded by Chinese Foreign Minister Wang Yi, aims not only to enhance technological […]
New era for Japan with OSAKA digital exchange debut
Japan is on the brink of a financial revolution, marked by the upcoming launch of its first digital securities exchange, the OSAKA Digital Exchange (ODE). Slated for introduction next month, the exchange will feature security tokens backed by major real estate firms Ichigo and Kenedix. This pioneering move reflects a broader shift towards leveraging alternative […]
Japan Supports U.S.-Led Initiative for Military AI Governance
Amid the accelerating integration of artificial intelligence into the intricate tapestry of global defense systems, Japan, standing shoulder to shoulder with 44 nations, announces its formal endorsement of a groundbreaking U.S.-led initiative. This initiative seeks to intricately regulate the deployment and application of artificial intelligence within the realm of military operations. As the world collectively […]
Top Japan Equity Fund Manager Bullish on Semiconductor Stocks Amid AI and EV Demand
Katsunori Ogawa, Chief Portfolio Manager of Sumitomo Mitsui Trust Asset Management Co.’s Sakigake High Alpha funds, is ramping up investments in semiconductor-related stocks, citing the increasing demand for artificial intelligence (AI) and electric vehicles (EVs). The move comes as these stocks are perceived to be trading at attractive valuations, presenting an opportunity for investors. In […]
Why exactly is Japan going after Google?
When the headlines scream of another tech behemoth under scrutiny, one has to pause and ask, “Why now? And more importantly, why them?” Japan, in its latest move, has turned its regulatory gaze towards Google, adding yet another layer of complexity to the giant’s global dance with antitrust watchdogs. But why? What’s the core of […]
This is Japan’s secret plan to pump its stock market
Cracking the whip on corporate lethargy, Japan is flexing its muscles and upending the corporate world with a bold “name and shame” strategy to juice up its stock market. The Japan Exchange Group, the mastermind behind Tokyo and Osaka exchanges, isn’t playing around. Their vision? Spark progress that recoups losses from that gut-wrenching market crash […]
Japan’s first bank-supported digital currency, DCJPY, to go live in July 2024
As economies continue to digitize, Japan is set to launch its first bank-backed digital currency in 2024. On October 12, digital currency and electronic payments business DeCurret Holdings released a white paper on its crypto proposal, the “DCJPY.” The coin will be released in July 2024, according to the organization. According to cryptocurrency exchange DeCurret, […]
The Impact of AI on BRICS Economies: Opportunities and Challenges
Artificial intelligence (AI) ‘s influence on emerging markets economies has garnered significant attention and discussion in an era marked by growing digitization. Among the BRICS nations—Brazil, Russia, India, China, and South Africa—the potential ramifications of AI are a topic of both anticipation and apprehension. Recent developments, such as Chinese President Xi Jinping’s announcement at the […]
China’s blueprint to dodging the Japan pitfall
China faces a crossroads in its modern economic history. Amid the turmoil and turbulent growth, it is at the cusp of potentially falling into the same trap that ensnared Japan decades ago. However, as with any formidable powerhouse, China might just have the cards to change its game. And those cards? They revolve around a […]
Japan’s concerns surrounding yen’s weakening intensify, potential intervention in sight
Japan is keeping all options on the table to address the excessive volatility in its currency markets. This statement comes with a renewed caution against the yen’s decline, especially as it approaches the psychologically significant threshold of 150 yen per US dollar, by the government’s chief spokesperson on Thursday. Given the recent breach of the […]
Japanese Yen performance declines, upcoming central bank meetings hold influence
The Japanese Yen (JPY) is persisting with its relatively weaker performance, as there are still doubts regarding the likelihood of a significant shift in the Bank of Japan’s (BoJ) dovish stance. At the close last week, the USD/JPY pair recorded a modest gain of 0.04% to reach 147.830. During a volatile session, the USD/JPY pair […]
Japan start-ups to ditch stocks for crypto – Details
Shifting gears in the financial landscape, Japan is breaking from its conservative stance on cryptocurrency. A nation traditionally seen as a stronghold of stock-driven fundraising for startups now stands on the cusp of a revolutionary transformation. Instead of going the stock route, young enterprises in the Land of the Rising Sun are gearing up to […]
China and Japan use new tricks to stifle US dollar
The stage is set as China and Japan craft strategic maneuvers to mitigate the overbearing strength of the US dollar. Their determined tactics are in response to an intimidating rally by the greenback that menacingly shadows their national currencies, potentially leading them to unprecedented dips. Asian Titans Brace for Economic Upheaval Asia’s heavyweights, China and […]
US dollar’s recent surge has prompted Asian currencies to drop
The US dollar’s recent surge is causing Asian currencies to drop to their lowest levels in months, which has prompted Japan and China to take measures to protect their exchange rates. On Wednesday, Japan issued a strong warning about the yen’s rapid decline, and their top currency official stated that they are prepared to intervene […]
EOS gains JVCEA approval for token trading in Japan’s exchanges
EOS, a well-established platform in the crypto industry, has recently achieved a significant milestone. The EOS Network Foundation (ENF) has successfully obtained regulatory approval to trade EOS tokens on regulated cryptocurrency exchanges in Japan. This approval was granted by the Japan Virtual and Crypto Asset Exchange Association (JVCEA), a regulatory body that ensures the safety […]
Gold prices in Japan soar past 10,000 yen per gram amid economic uncertainty
On Tuesday, the retail cost of gold in Japan crossed the 10,000 yen ($68.31) per gram mark for the first time, reaching 10,001 yen per gram on that day, marking a 28 yen surge from the previous day’s price. The value of gold in yen has been climbing due to the yen’s decline against the […]
Japan’s 10-year yield above 9-year high prompting alarm at BOJ
On Tuesday, Japan’s 10-year government bond yield attained its highest level in more than nine years. The move is significant to the central bank’s recent market intervention in response to a comparable situation earlier this month. The 10-year yield of the Japanese Government Bond (JGB) climbed by 1 basis point, touching 0.660%, a value not […]
U.S., South Korea and Japan gang up on China
A display of strengthened unity and alignment was evident at Camp David, as the U.S. President Joe Biden convened with Asian allies, South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida. The key aim? To mount a formidable front against China’s increasing dominance in the South China Sea and nuclear intimidations from […]
Why is Japan in the middle of US-China rivalry
Japan, the historical titan of the East, now finds itself caught in the midst of a modern-day superpower showdown between the US and China. Both the Pacific giants view Japan as a pivotal player in their global chess match, yet Japan’s stance remains as enigmatic as ever. What’s behind this intense spotlight on Japan? Tokyo’s […]
Sam Altman claims Worldcoin onboarding 1 user every 8 seconds despite skepticism and waning interest
Sam Altman, the creator of Worldcoin, caused a stir on Twitter on July 26 when he confidently asserted that “one person is getting verified every 8 seconds now” for the ambitious Worldcoin project. He shared a cellphone video featuring long queues of people waiting to participate, aiming to showcase the massive demand for the eye-scanning […]
Japan’s crypto vision: Transforming the internet
Journey with me as we get into the profound aspirations of the Land of the Rising Sun—Japan—as it decisively marches toward a digital revolution that stands to redefine the core fabric of the internet as we know it. The drive comes from the top, with Prime Minister Fumio Kishida zealously backing the Web3 technology, which […]
Japan’s Prime Minister reiterates commitment to Web3 development amidst anticipation of Binance’s upcoming launch
Japan’s Prime Minister has signaled a significant step toward adopting blockchain and decentralized technologies by reiterating the country’s commitment to Web3. Additionally, Binance, one of the largest crypto exchanges in the world, has announced that it will soon launch in the country, solidifying the country’s status as a booming hub for Web3 innovation. Japan PM […]
Prime Minister Fumio Kishida commits to fostering thriving Web3 ecosystem in Japan
Prime Minister Fumio Kishida declared Japan’s commitment to fostering a thriving web3 ecosystem during today’s WebX web3 conference. Addressing the virtual gathering, he lauded web3’s transformative potential, emphasizing its crucial role in his administration’s “new capitalism” economic strategy. The strategy aims to fuel economic growth and innovation while addressing pressing societal issues. Kishida’s announcement signals […]
Circle looking to issue stablecoin in Japan under new stablecoin law
Circle, the issuer of stablecoin USDC, has announced that it is considering issuing a stablecoin in Japan. In an interview with CoinDesk Japan, Jeremy Allaire, the Circle CEO, mentioned that Japan will grow into a substantial market if stablecoins are widely used in international transactions and global commerce. The bullish statement comes after Japan’s announcement […]
Japan gets ready to dominate global AI chip war
A global tech battle is brewing as Japan prepares to carve out its niche in the increasingly contentious AI chip war. Fueled by a government-backed deal, Tokyo-based JSR is poised to strengthen Japan’s stronghold in this heated US-China race for semiconductor supremacy. Unraveling the JSR puzzle Securing a pivotal position in the global semiconductor supply […]
Sony Network fueling web3 adoption in Japan
In a remarkable stride towards the future of technology, Sony Network Communications, an influential subsidiary of Sony, has announced a significant move that seeks to bolster the adaptation and global infrastructure of Web3. This ambitious endeavor is the latest in a series of forays by the company into the realm of groundbreaking technologies. A strategic […]
Japan is using generative AI in schools
The Land of the Rising Sun is now leading a rising trend: incorporating generative artificial intelligence (AI) into its educational framework. Japan is venturing into uncharted territory by integrating these advanced technologies into its school systems, demonstrating a progressive approach to AI in education. This bold step from the Japanese Ministry of Education, Culture, Sports, […]
