Japan’s finance minister, Katsunobu Kato, recently expressed his support for cryptocurrency integration into investment portfolios, viewing it as a potential tool for diversification. While acknowledging the volatility of this asset class, he believes it could be incorporated within a suitable framework, according to a Bloomberg report.
To facilitate crypto trading and foster stability, Japan’s ministry plans to establish an appropriate trading environment.
Recent developments in Japan’s crypto policy include the LDP’s commitment to implementing a flat tax regime for digital assets (around 20%). This proposed change could significantly impact the local cryptocurrency market. Additionally, the LDP plans to implement equity-style insider trading rules for crypto, aiming to combat illicit activities such as exploiting insider information for profit, including token listing plans and protocol changes.
These measures follow a history of strict crypto regulations initiated by the LDP in response to multiple major hacks. The country emerged as one of the most regulated cryptocurrency markets. The LDP’s approach has been driven by the belief that digital assets carry inherent risks, but its recent embrace of Web3 aims to attract tech talent and foster innovation.
Another notable development is Metaplanet, the largest corporate holder of Bitcoin in Japan, recently being added to the FTSE Japan Index. This move reflects growing confidence in the Japanese crypto industry. The CEO of Metaplanet also announced an acquisition of $11.7 million worth of Bitcoin, bringing its total holdings to nearly $2 billion.
Read the full article on U.Today.