Japan’s Lower House reportedly passed a bill that would bring crypto under the country’s financial instruments framework, potentially opening the door to ETFs and lower tax treatment. Japan’s Lower House reportedly passed a bill that would bring crypto assets under the country’s financial instruments framework, potentially opening a path to exchange-traded funds (ETFs) and lower tax treatment for digital assets. The bill would move crypto assets closer to the regulatory treatment of stocks and bonds by subjecting them to stricter trading rules, Bloomberg reported on Thursday. The legislation is expected to take effect next year after going through the Upper House. The proposed changes could lower the capital gains tax on crypto assets like Bitcoin (BTC) and Ether (ETH) from a current maximum of 55% to a 20% flat rate, in line with stocks and bonds. The tax change is expected to take effect in 2028. Read more
Bitcoin’s average price response to Bank of Japan rate hikes was a 22.5% sell-off. Will BOJ’s upcoming policy decision trigger another BTC price crash? Since 2024, Bitcoin (BTC) has posted four major corrections after interest rate hikes by the Bank of Japan (BOJ), with declines ranging from 18% to 28%. This dynamic places renewed attention on the BOJ's June 16 policy decision. Data currently point to a variety of pressures on BTC, with BTC whale distribution and exchange inflows possibly carrying more weight than Japanese monetary policy. The relationship between BOJ policy and Bitcoin has gained attention because each rate increase since Japan ended its negative interest rate policy has been followed by a sizable correction. Read more
SBI will give out vouchers that can be redeemed for Bitcoin, Ether or XRP through SBI VC Trade, linking bank savings with the group’s crypto exchange arm. SBI Shinsei Bank will reportedly launch a service that rewards deposit customers with cryptocurrency exchange vouchers based on their account balances. According to a Nikkei report, customers will receive vouchers equal to 20% of their interest payments, in addition to their yen-denominated interest. The vouchers can be exchanged for Bitcoin (BTC), Ether (ETH) or XRP within a specified period. Customers would need to open an account with SBI's crypto exchange arm, SBI VC Trade, to redeem the vouchers. Read more
Severe tropical storm Jangmi ripped across Japan on Wednesday, with fierce winds and torrential rain disrupting transport and businesses, and knocking out power for tens of thousands of homes. The storm’s centre lay about 150 kilometres south of Tokyo as of early Wednesday afternoon, moving northeast with maximum sustained winds of up to 25 metres per second, Japan’s Meteorological Agency said. The storm is set to pass very close to the Pacific side of eastern Japan and heightened vigilance is needed, the agency added. At least 15 people have sustained minor injuries, according to authorities. The storm, with a central pressure of 985 hectopascals, has cut power to nearly 60,000 households so far, and authorities have been receiving reports of flooding, fallen trees and debris, and landslides across a wide stretch of regions, government spokesperson Minoru Kihara said during a regular press briefing. “If you sense any danger, please do not hesitate to take early action to protect your lives,” Kihara said. Eva...
The Parliamentary Association for the Promotion of Blockchain delivered recommendations to Japan’s finance minister on crypto and blockchain. A group of lawmakers within Japan’s Liberal Democratic Party (LDP) are seeking reforms to the country's cryptocurrency taxation system, as well as support for initiatives for the development and adoption of yen-denominated stablecoins. According to a Monday Nada News report, the LDP’s Parliamentary Association for the Promotion of Blockchain delivered recommendations to Finance Minister Satsuki Katayama, including provisions on stablecoins, exchange-traded funds (ETFs), central bank digital currencies (CBDCs), and applications for blockchain technology. The document proposes doubling the leverage cap for retail cryptocurrency derivatives trading and establishing a framework for ETFs tied to digital assets. Read more
Polymarket is reportedly seeking entry into Japan amid falling trading volumes and rising regulatory scrutiny, targeting approval by 2030. Polymarket, a global prediction market platform, is reportedly seeking entry into Japan amid growing regulatory scrutiny of the sector worldwide. The company has appointed Mike Eidlin, head of Japan at crypto firm Jupiter, to lead its local efforts and is preparing to lobby for authorization of prediction markets in the country, Bloomberg reported Friday, citing people familiar with the matter. Polymarket is targeting government approval in Japan by 2030, viewing the market as a major untapped opportunity. Read more