Strategic Bitcoin Reserve Push Ignited By Japan’s Democratic People’s Party
Japan’s debate over sovereign Bitcoin exposure moved from the fringe to the front row this week after JAN3 chief executive Samson Mow met in Tokyo with Yuichiro Tamaki, who leads the Democratic Party for the People (DPP), and Sōhei Kamiya, leader of Sanseitō. Will Japan Establish A Strategic Bitcoin Reserve? As Mow put it, “We […]
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Japan is the only one among seven major industrialized nations to tax bitcoin. There is an increasing number of critics within the country arguing that the consumption tax hurts Japan’s competitiveness, writes Toshihisa Kinouchi of Nikkei. While Japan currently ponders deeming bitcoin and virtual currencies as currencies similar to conventional fiat currencies, there is another debate surrounding bitcoin that is being talked among regulators and politicians. Tsukasa Akimoto, a member of the Liberal Democratic Party — the ruling party in the country — put forth a question toward Finance....
The recent remarks by leading US presidential candidate Donald Trump regarding Bitcoin’s potential role as a strategic reserve asset for the United States have ignited substantial discussions among policymakers, legal experts, and financial analysts. While Forbes reported on the potential move, it is David Bailey, CEO of Bitcoin Magazine and advisor to the Trump campaign, […]
The ruling party is planning to attempt a postponement of the crypto tax laws but the Finance Minister is not for turning. South Korea’s Minister of Strategy and Finance, Hong Nam-Ki has vowed that the controversial crypto tax code will come into effect on January 1st, 2022 despite moves this week by the majority Democratic Party to postpone it to 2023.The tax code will levy a 20% tax on income generated by crypto transactions in excess of 2.5 million KRW, or about $2100 USD.International media this week reported that the Democratic Party, which holds a slim majority in South Korea’s....
Representative Nick Begich unveiled the American Reserve Modernization Act on Thursday, presenting the bill as a way for the United States to create a strategic Bitcoin (BTC) reserve and update how the federal government handles digital assets kept on the public balance sheet. The legislation would set up a “secure” Strategic Bitcoin Reserve inside the […]
BREAKING: According to Reuters, Japan will not regulate Bitcoin in the nearest future. Japan's Liberal Democratic Party has decided to go against Bitcoin regulation in the aftermath of the Mt. Gox failure. Bitcoin has been under scrutiny by the authorities in Japan, the temporary conclusion by the Liberal Democratic Party is therefor somewhat surprising. The Liberal Democratic Party lawmaker Takuya Hirai, who leads the party's internet media division, said on Thursday: Basically, we concluded that we will, for now, avoid a move towards legal regulation. He also told that a final decision....