Japan to ease 30% crypto tax for crypto businesses
In Japan, crypto issuers and businesses pay a set 30% corporate tax rate on their holdings, regardless having made a profit or not. However, the government is making plans to ease the levied tax. As part of its efforts to promote development in the domestic financial and IT industries, the Japanese government plans to relax […]
FTX gets three more months to stop all operations in Japan
Japanese authorities have postponed FTX Japan’s suspension deadline because the firm has so far failed to return assets from custody to creditors. Local regulators have given the Japanese affiliate of the now-defunct cryptocurrency exchange FTX permission to work through withdrawal-related problems into the following year. According to Reuters, a statement addressing FTX Japan operations has […]
BOJ to conduct digital yen trial with Japan’s 3 megabanks
The Bank of Japan (BOJ) is working with three megabanks as well as regional banks in the Asian nation—and next year will trial a digital yen. The Bank of Japan (BoJ) is still testing a potential digital yen despite Japan’s uncertainty over whether to issue a central bank digital currency (CBDC). According to a Nov. […]
FTX Japan Intends To Resume Withdrawals This Year
Japan’s Financial Services Agency requested the exchange suspend business orders on Nov. 10, FTX Japan plans to resume withdrawals this year. By the end of 2022, FTX Japan, a subsidiary of the cryptocurrency exchange, reportedly plans to start accepting withdrawals again. NHK, a Japanese news organization, reported on November 21 that the crypto exchange has […]
Financial Regulator Orders FTX Japan To Cease Operations
In accordance with the directives, FTX Japan will be compelled to halt OTC derivatives transactions, associated margins, and new deposits. The Financial Services Agency (FSA) of Japan has asked FTX Japan to halt business transactions, citing FTX Trading Limited’s policies. The FSA announced on Nov. 10 that administrative procedures had been launched against the crypto […]