Bitcoin-Yen Pair Hits Record High, Reflects Stress on Japan’s Fiat Currency
Bitcoin’s ongoing rally is telling of current market perceptions about fiat currencies, with sentiment being weakest for the Japanese yen.
Japan
Crypto Backers B. Riley and Nomura Entangled in SEC Probe: Bloomberg
Investment bank B. Riley is under an undisclosed investigation from U.S. authorities for its deals with Brian Kahn, an alleged co-conspirator in a U.S. Department of Justice criminal case.
Japan’s Cabinet Proposes Scrapping Corporate Tax on Unrealized Crypto Gains
Prime Minister Fumio Kishida’s government has been considering submissions on how best to encourage the industry’s development, which it sees as a pillar of economic reform.
Competition in Digital Markest Hits G7 Nations’ Radar
Policymakers from the Group of Seven advanced nations agreed to collectively coordinate scanning for early warning signs that may tip competition in digital markets.
Crypto Exchange bitFlyer Aligns Itself With FATF ‘Travel Rule’ With New Restrictions
The company is only allowing crypto and transfers to platforms that comply with Coinbase-led Travel Rule Universal Solution Technology (TRUST).
Stablecoins Are the ‘Glue’ Between the Real Economy and Blockchain: Binance Japan General Manager
Tsuyoshi Chino added that Binance J.apan may be still “a long way off” its business and activities being properly understood in gaining regulatory acceptance
G-7 Finance Ministers Discuss Crypto Regulation Ahead of Japan Summit Next Week
Representatives for the seven advanced economies signaled a commitment to following norms set by standard-setters FSB and IMF on crypto and central bank digital currencies.
Japan Approves Web3 White Paper to Promote Industry Growth in the Country
The white paper proposes more tax reform, clearer accounting standards and a DAO law.
Japan Regulator Flags Four Crypto Exchanges Including Bybit for Operating Without Registration
Bitget, BitForex and MEXC Global were also named in the Financial Services Agency’s warning letter.
Japan’s Finance Ministry to Explore Digital Yen Feasibility: Report
The ministry plans to launch an expert panel next month to explore the feasibility of a central bank digital currency.