“Japanese tax regulation is crazy and wrong,” Genki Oda, president of crypto exchange BITPoint, told CoinDesk. If the authorities were to make the tax law on crypto equivalent to that of stocks, he estimated that JPY 10 trillion to JPY 20 trillion ($88 billion to $175 billion) would return to Japan’s crypto markets. Source link … [Read more...] about Japan’s Taxes on Crypto Firms Are Leading Some to Leave the Country
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Study suggests Canadian CBDC could promote digital innovation within the country
A study released by Canada’s central bank, Banque du Canada, has noted a number of favorable reasons that the country could benefit from its own Central Bank Digital Currency, or CBDC.The document laid out two scenarios that might result in the bank issuing a CBDC at some future date. One would be if citizens were no longer widely using cash within the country for reasons that … [Read more...] about Study suggests Canadian CBDC could promote digital innovation within the country
Currency devaluation in Nigeria is driving a crypto boom in the country
Data from analytics firm Chainalysis shows that in May, Nigerians received a marked increase in crypto compared to last December.Observers say this is partly due to the central bank’s recent currency devaluation, which weakened the naira to its lowest ever level against the dollar.The resulting boom in crypto activity lends support to the idea that cryptocurrency provides a … [Read more...] about Currency devaluation in Nigeria is driving a crypto boom in the country
Crypto community reacts to El Salvador becoming first country to adopt Bitcoin as legal tender
The decision was announced by the country’s President, Nayib Bukele, while speaking during a video broadcast at the Bitcoin 2021 conference held in Miami.“Next week, I will send to Congress a bill that will make Bitcoin a legal tender,” he was quoted saying.The President also revealed that the country had entered a partnership with famous digital wallet company, Strike, to … [Read more...] about Crypto community reacts to El Salvador becoming first country to adopt Bitcoin as legal tender
Korean banks sound alarm as altcoins volumes grow in the country
The Korea Federation of Banks (KFB) has recently urged its members to estimate the total number of altcoins their crypto exchange clients are offering to measure risks associated with them, local outlet The Korea Herald reported yesterday.“One of the criteria that we recommend is the safety of digital assets and that can be measured by the number of digital coins on an … [Read more...] about Korean banks sound alarm as altcoins volumes grow in the country