Japanese Crypto Associations Merging to Restore Trust Across the Industry

Japan’s two cryptocurrency associations have reportedly decided to merge in order to restore trust in the industry and accelerate self-imposed rules. Once approved by the Japanese financial regulator, the new organization will have the power to set penalties for breaches of self-regulation. Also read: Japan’s DMM Bitcoin Exchange Opens for Business Continue Reading

Japan’s GMO to Launch BTC, BCH Cloud Mining Service in August

Japanese technology conglomerate GMO Internet is about to launch a new cloud offering for mining BTC and BCH. If you have at least $5 million that you want to invest in such a venture, and don’t want the hassle of opening your own mining farm, applications start next month. Also Continue Reading

Coincheck Produces Recovery Plan While Investors Flock to Withdraw Funds

Japanese cryptocurrency exchange Coincheck has submitted a report to the country’s financial authority outlining measures it will take following the hack that lost 58 billion yen worth of the cryptocurrency NEM from its platform. However, customers rush to withdraw 40.1 billion yen of their funds so far as the exchange Continue Reading

Japanese Crypto Investors Flee Capital Gains Taxation of up to 55%

Reports have indicated that some investors are relocating in search of alternative taxation regimes in order to avoid heavy capital gains taxes. Japan currently taxes capital gains on profits derived through virtual currency trading at between 15% and 55%. Also Read: India’s Tax Department Issues Notices to 100,000 Crypto Investors Japanese Continue Reading

Bank of Thailand Bans Banks From Cryptocurrency Activities

The Thai central bank has prohibited financial institutions in the country from five key cryptocurrency activities, including banning customers from buying cryptocurrencies with credit cards. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Banks Banned From 5 Crypto Activities The Bank of Thailand (BOT) issued a circular Continue Reading

Dubai Issues License to Cryptocurrency Firm

The largest free economic zone in the UAE, with zero percent personal and corporate income tax, has started issuing licenses to firms trading cryptocurrencies. The first license has been issued to a gold trader that has recently started offering cryptocurrency services. Also read: Japan Cracks Down on Foreign ICO Agency Operating Continue Reading