Japan Financial News

In the past week, Bitcoin's price has experienced an impressive 7% increase, raising questions about the cryptocurrency's future trajectory. As investors and market analysts eagerly assess the factors driving this surge, many are left wondering where Bitcoin is heading next and what potential obstacles it may face along the way.

The US House Financial Services Committee and House Agriculture Committee are set to introduce comprehensive legislation to oversee the cryptocurrency sector in the next two months.

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Crypto exchange Binance is set to reenter Japan after acquiring the regulated crypto exchange platform Sakura Exchange Bitcoin (SEBC). Binance acquired the exchange — a Japan Financial Services Agency-licensed business — in November 2022, intending to reenter the Japanese crypto market.

A new survey suggests that 46% of millennials across major population countries, such as the United States, China, Japan, Germany, Indonesia and Nigeria, own cryptocurrencies.

Global banks continue to expand their cryptocurrency-related capabilities, with the British multinational bank Standard Chartered raising new funding for its crypto platform Zodia.

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FTX announced that it has entered into a purchase agreement with an affiliate of Miami International Holdings to sell its futures and options exchange and clearinghouse LedgerX. 

The US Department of Foreign Asset Control (OFAC) has sanctioned three individuals that allegedly supported North Korea through illicit financing and malicious cyber activity. 

Japan’s regulatory and political environment for crypto and Web3 technologies has been evolving rapidly over the past several years. The Financial Services Agency of Japan reported in December 2022 it planned to lift restrictions on foreign-issued stablecoins in Japanese exchanges, which could have significant implications for the decentralized finance (DeFi) ecosystem in Japan and the wider region. 

South Korea is edging closer to a central bank digital currency (CBDC) launch, with a new draft law set to create legal terminology for CBDCs.

Starting May 8, Know Your Customer (KYC) identity verification will be mandatory for all products and services offered by cryptocurrency exchange Bybit.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

According to a report published by the Hong Kong Stock Exchange (HKSE), two Bitcoin (BTC) exchange-traded funds (ETF) and an Ethereum (ETH) ETF listed on HKSE averaged 9.30 million Hong Kong dollars ($1.19 million) in daily trading volume from Dec. 16, 2022, to Feb. 7, 2023. As the first region in Asia to provide such access to crypto ETF products, Hong Kong exchange operators praised regulator clarity for its role in "seizing opportunities in virtual asset development."

An effort to revive collapsed crypto exchange FTX has drawn interest from Tribe Capital, a venture firm seeking to lead a $250 million fundraising campaign for the new platform. 

Australia, the country that hosts the third-largest network of Bitcoin (BTC) ATMs, surpassed the continent of Asia in terms of the total number of crypto ATMs installed.

Tribe Capital, the San Francisco-based venture capital firm that previously invested in FTX before its collapse, is exploring the possibility of injecting new capital to revive the bankrupt cryptocurrency exchange, Bloomberg reported on April 18.

KARUIZAWA, Japan—The Group of Seven industrialized democracies sought to show a unified front on China following recent comments by French President Emmanuel Macron that the European Union shouldn’t follow Washington’s lead on the issue of Taiwan. 

Crypto lender Amber Group is considering options for its Japan unit, including a potential sale, as part of its plan to focus more on institutional clients, managing partner Annabelle Huang told Bloomberg. 

Crypto lender Amber Group is weighing options for its Japan unit, including a possible sale, and plans to apply for a Hong Kong license following the city’s pivot toward creating a digital-asset hub. The evaluation of the Japan operation is part of a strategic decision to focus more on institutional rather than retail business, Amber’s Managing Partner Annabelle Huang said in an interview on Bloomberg Television on Friday. Japan is a “very high quality market, but regulations are strict,” Huang said, adding the firm doesn’t have an announcement at the moment about a deal. Singapore-based Amber acquired Japanese crypto exchange DeCurret Inc. in 2022. While Japan has eased some digital-asset rules, other firms like Coinbase Global Inc. and Kraken have already pulled back from the East Asian nation.

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