SBI Holdings will work with UAE firm TradeFinex on a Japanese joint venture to boost the adoption of its enterprise blockchain platform on the XDC Network.
Why Binance and Banking Giant MUFG Want to Issue Stablecoins in Japan
Binance Japan and Mitsubishi UFJ bank want to help with the country’s Web3 ambitions by issuing stablecoins.
Crypto exchange Binance among firms eyeing new stablecoins in Japan
Binance and Mitsubishi UFJ Trust and Banking Corporation (MUTB) are exploring the issuance of Yen and other foreign currency-denominated stablecoins in Japan.
Bitcoin Adoption Fund launched by Japan’s $500B Nomura bank
The Bitcoin Adoption Fund will have long-only exposure to Bitcoin and be available to institutional investors.
Japan to allow start-ups to raise funds by issuing crypto instead of stocks: Report
According to local media, Nikkei.com, this updated system is specifically applicable to a category of funds known as Investment Business Limited Partnerships (LPS).
Japanese regulator seeks to scrap “unrealized gains” tax on crypto
Financial Services Agency has proposed to change the tax code around digital assets in a bid to free domestic firms from the end-of-the-year “unrealized gains” tax on crypto.
From the U.S. to Japan, regulators are beginning to embrace crypto
Switzerland, Singapore and the EU have taken the early regulatory lead, but Japan and the UAE are coming on now. Even the U.S. may be awakening.
What in the World Is Going on With Crypto Regulation?
Regulatory clarity has fueled crypto bull markets, demonstrated by Japan’s 2016 adoption of crypto as payment and OCC’s 2020 endorsement of crypto engagement. While global strides in clear crypto regulations are evident, particularly in Hong Kong, EU and UK, the US lags, emphasizing the need for enhanced regulatory certainty in the industry’s advancement.
Crypto Biz: Worldcoin plans to open source data, MicroStrategy preps for BTC halving, and more
This week’s Crypto Biz looks at Worldcoin’s expansion plans, GameStop’s exit from crypto, MicroStrategy’s quarterly results and Nomura’s crypto license in Dubai.
Germany is dragging Europe’s economy down — and that’s great for crypto
Cointelegraph analyst and writer Marcel Pechman explains how a weakening German economy — Europe’s largest — is a positive for cryptocurrencies.
Binance To Enter Japan With A Bang, Will List More Tokens Than Any Local Exchange
According to Japanese-based crypto media outlet Coinpost, Binance will launch in Japan fully this month and intends to list 34 tokens on its exchange. This means the platform will offer more tokens than its local competitors in Japan, with major domestic exchanges Bitbank, GMO Coin, and Coincheck listing 30, 36, and 22 tokens, respectively.
The largest crypto exchange by trading volume intends to list its native BNB token, making this the first time it will be available in the country. Some of the other tokens expected to be listed include Axie Infinity (AXS), Solana (SOL), and Avalanche (AVAX).
A Remarkable Re-entry
News of the re-entry into Japan was announced by the CEO of Binance via a Twitter video. According to him, the platform has been making efforts to re-enter the Japanese market for a while now. He was effusive with his praises and noted that since 2017, Japan had established crypto exchange regulations, including the recent stablecoin regulations enacted in June. He also stated it was “fantastic to see Japan being a leader in the Web3 regulatory environment.”
He further added that Binance was glad to once again partake in the Japanese market after its purchase of the Sakura Exchange BitCoin (SEBC) platform in November last year. Following the acquisition, SEBC changed its name to Binance Japan Inc.
The purchase of the exchange was instrumental in paving the way for the re-entrance of Binance in Japan. Binance will initially offer sport trading services. However, the exchange will not render leveraged trading services since this will require a Type 1 Financial Instruments Business license, with more restrictive standards.
Additionally, cryptocurrency users in Japan will also be offered access to Binance Earn, a specially designed program that enables participants to earn interest on their cryptocurrency deposits. The exchange will also render Japanese crypto traders an opportunity to trade on its NFT marketplace.
Major Regulatory Win for Binance
This recent announcement marks a major regulatory win for Binance. In the recent past, the platform has faced various regulatory challenges and was recently made to drop its license application in Germany.
In France, the exchange also faces regulatory investigations, with French authorities accusing Binance of being involved in offering illegal digital assets services and failing to curtail money laundering.
Therefore, this latest announcement of a re-entry into the Japanese market heralds a major regulatory win for the embattled exchange.
Binance Japan begins launching trading services for residents
The Japan-based crypto exchange said it was offering spot trading for 34 tokens as of Aug. 1, with plans to migrate global Binance users starting on Aug. 14.
Nomura’s crypto arm Laser Digital bags Dubai VARA license
Laser Digital said it would also launch trading and asset management operations in the coming months, including over-the-counter (OTC) service.
Binance Japan Starts Onboarding Users
Two years earlier, the exchange was warned by Japanese regulators that it was operating in the country without permission.
Japan Blockchain Association demands tax cuts for crypto
Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets.
Japanese Web3 developer HashPort Group raises $8.5M in funding round
The funds will be used to aid the firm’s global expansion across tough regulatory landscapes.
Worldcoin rebuts reports of lackluster takeup as Altman cites Japan queues
A video shared by Worldcoin co-founder Sam Altman shows a long queue of people in Japan reportedly waiting to collect $50 worth of Worldcoin (WLD) tokens or 25 WLD.
Binance to Reenter Japan in August 2 Years After Regulator’s Warning
Leading cryptocurrency exchange Binance will be launching its full service in Japan in August. The return was made possible by Binance’s purchase of regulated crypto exchange Sakura Exchange BitCoin last November.
Japan PM reaffirms Web3 plans as Binance announces imminent launch
Fumio Kishida described Web3 as a “new form of capitalism” in a keynote address at WebX conference in Japan.
Japan PM reaffirms Web3 plans as Binance announces imminent launch
Fumio Kishida described Web3 as a “new form of capitalism” in a keynote address at WebX conference in Japan.