Japan Moves to Allow Investment Funds to Hold Crypto
The Japanese cabinet has approved the addition of cryptocurrencies to the list of assets that local investment limited partnerships (LP) firms are permitted to purchase or keep. The Ministry of Economy, Trade, and Industry declared on February 16 that VCs involved in cryptocurrency now have greater regulatory certainty. The objective of the modification is to […]
Japan FSA Suggests Halting P2P Fiat to Crypto Transactions
Japan’s primary financial regulator, the Financial Services Agency (FSA), has recommended several safeguards to prevent “illicit transfers” to cryptocurrency exchanges. One of which is controlling the peer-to-peer (P2P) transaction market. The FSA issued a request to Japanese institutions on February 14. The regulator reports that the country’s fraudulent transactions continue to be prevalent, mostly involving […]
Mercari to Accept Bitcoin Payments for Its Flea Market Products
Mercari, Japan’s leading e-commerce platform, is planning to introduce Bitcoin payment options for its flea market products by June 2024. The payments will be facilitated by Mercoin, the company’s dedicated crypto exchange and blockchain service platform. Mercari, Japan’s leading e-commerce platform, is gearing up to introduce Bitcoin payment options for its flea market products by June 2024, […]
Japan Proposes Reducing Tax on Long-term Crypto Holdings
Japan plans to introduce a digital yen, or DCJPY, and overhaul its crypto tax laws in order to increase its influence in the digital economy. Japan is preparing to implement new taxes for businesses that own long-term cryptocurrency assets. This action is a component of a larger plan to put Japan in a competitive position […]
Japan’s Average Value of Undeclared Crypto Income Falls 19% in 2022
Japan’s tax authorities estimate that the average value of undisclosed cryptocurrency income fell by 19% in 2022, while the number of tax evasion cases featuring crypto assets rose by 35% in the same year. The Japanese National Tax Agency (NTA) published its annual summary of tax investigations on November 24. The thirteen-page document also includes […]