Japan embraces Web3 while other countries are hesitant
A tiny but vocal group of legislators are putting up regulations for anything from non-fungible currencies to decentralised autonomous organisations (DAO) (NFT). Japanese exchanges are finding it simpler to list tokens. A burdensome tax requirement has been changed, which is a significant victory for cryptocurrency business owners. Coinbase and Kraken left Japan, while Binance, which had previously irritated Japanese regulators, was able to purchase a Japanese exchange. Additionally, stablecoins—which are now prohibited on Japanese exchanges—have a new direction to follow.
Ghosts of previous hackersThe simplest explanation would be that Japan has already experienced Hell and back when it comes to cryptocurrencies. It demonstrated its storm-weathering abilities. So, some of the earlier fear has subsided.
Japan was a pioneer in the crypto industry, and the losses followed quickly. Japanese exchange Mt. Gox had a hack in 2014. Then, in the biggest theft in cryptocurrency history, hackers attacked once more in early 2018, stealing almost $500 million from the Japanese exchange Coincheck. Japan was on track to become the Asian and even global capital of cryptocurrency not long before the Coincheck hack. Regulators were severely alarmed by the breach, and Japan appeared to vanish from the crypto scene. For a time it seemed almost impossible to list new tokens on exchanges. ...continue reading
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Reuters - Apr 01
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beincrypto.com - Mar 28
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Bloomberg - Mar 24
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Reuters - Mar 23
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NOJ / TV Asahi - Mar 23
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Hokusai's 'Great Wave' print sells for record $2.8m in New York
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One of the most famous of Japan's ukiyo-e woodblock prints has sold for $2.76 million at the Christie's auction house in New York, a record for a print by Katsushika Hokusai.
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Bloomberg - Mar 17
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Hot spring baths block Japan's geothermal potential
AFP - Mar 16
The hot springs at Tsuchiyu Onsen are beloved by bathers but also power a small geothermal plant, making use of an abundant yet barely tapped green energy source in Japan.
