Tag Archives: japan

GMO Coin – a cryptocurrency exchange operating under the umbrella of the Japanese IT behemoth GMO Internet Group – will distribute Songbird (SGB) tokens to eligible XRP users. The airdrop is scheduled to reach customers by September 29, 2023. Benefiting XRP Owners The Japanese organization explained that the offering will reach those clients who have held amounts of Ripple’s native token in GMO Coin accounts after December 12, 2020. “Customers using crypto asset lending...

Japan just established a whole new level of clarity to its crypto tax agenda. Up to this point, all unrealized gains from crypto assets were subjected to the country’s present 30 percent corporate tax rate, though now, it appears this is coming to an end. Japan is Putting an End to Some Crypto Taxation The news came from Japan’s National Tax Agency (NTA). The agency explained in a statement that crypto assets will be excluded from any company’s asset valuation...

The world’s largest cryptocurrency exchange – Binance – will purportedly launch services on its new platform in Japan next month.  The firm pulled out of the Land of the Rising Sun in 2018 after having a major dispute with the local regulators.  Binance’s CEO – Changpeng Zhao (CZ) – has supposedly confirmed the news in a video conference in Tokyo on July 25 (as seen by Bloomberg). The exchange previously announced that it will start operating on the Japanese market after June...

Mitsubishi UFJ Financial Group (MUFG) – the largest finance institution in Japan – is reportedly considering issuing global stablecoins via its blockchain platform.  The bank has previously revealed plans to introduce such tokens tied to the value of the Japanese yen.  MUFG’s New Crypto Idea As reported by Bloomberg, the entity is in talks with industry leaders and other companies on minting stablecoins pegged to foreign currencies, such as the US dollar. To do so, it intends...

The world’s largest cryptocurrency exchange – Binance – aims to begin operating on the Japanese market after June this year.  This will mark the company’s return to the Land of the Rising Sun after leaving in 2018 due to regulatory issues.  Sakura Exchange BitCoin (SEBC) announced that Binance Japan will start providing services and products to local customers after June 2023.  The crypto giant acquired SEBC in November last year for an undisclosed sum to strengthen its...

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Japan’s Financial Services Agency (FSA) issued a warning letter to four leading cryptocurrency platforms (Bitget, Bybit, MEXC Global, and BitForex) for failing to receive proper registration. The watchdog alerted in 2021 that Bybit had started offering services without obtaining the necessary licenses. The FSA’s Latest Warning The Japanese regulator maintained in a recent letter that the four companies violated the nation’s fund settlement laws by “conducting crypto asset...

Polkadot’s leading parachain and innovative hub, Astar Network, has partnered with Tokyo’s special ward Shibuya to support the city’s Web3 initiative. According to a press release sent to CryptoPotato, the partnership will see Astar and Shibuya team up to foster the development of Tokyo’s Web3 strategy. Astar Network Partners Shibuya City As per the release, the alliance is the first between a Japanese blockchain firm and one of Tokyo’s biggest and most densely populated...

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Yuzo Kano – Co-Founder of Japan’s leading cryptocurrency platform BitFlyer – reportedly seeks to spearhead the firm as a CEO again after stepping down in 2019.  He also wants to terminate the tension between the current management team and shareholders and steer the entity to an initial public offering (IPO). A Possible Comeback After Four Years As reported by Bloomberg, the 47-year-old Japanese entrepreneur wants to serve as the CEO of BitFlyer once again to establish it as...