China News by Thebittimes.Com

Source: Binance (X) SoftBank -backed PayPay Corporation has acquired a 40% stake in Binance Japan, marking one of the most significant crossovers between Japan’s mainstream digital payments sector and the cryptocurrency industry. The partnership aims to bridge everyday payments and digital asset trading, potentially reshaping how Japanese consumers interact with money in an increasingly digital economy. Strategic Alliance Strengthens Domestic Financial Ecosystem PayPay confirmed the acquisition in early October, saying it would treat Binance Japan as an equity-method affiliate. The two companies have agreed to a capital and business alliance that will include joint development, product innovation and shared infrastructure. For PayPay, the investment is part of a broader strategy to evolve from a mobile payment service into a comprehensive digital financial platform, offering savings, investment, and asset management products under one umbrella. Binance Japan...

Japan pushes US tariff reversal with unprecedented urgency right now, and Economic Revitalization Minister Ryosei Akazawa is heading to Washington for his fifth trip focused on resolving these trade disputes. The US tariff negotiations are intensifying ahead of the G-7 trade talks scheduled for mid-June, and the Japan trade policy update is reflecting mounting diplomatic pressure at this time. Market analysts are warning of potential impact on global markets as both nations work against an increasingly tight timeline before the crucial summit. Also Read: Trump’s New Capital Tax Sparks Fears of Global Retaliation Japan’s US Tariff Reversal Push Sparks Market Volatility And Trade Risks Source: Spectrum News Diplomatic Mission Intensifies Trade Pressure Japan pushes US tariff reversal through intensive diplomatic efforts right now, and Akazawa is making his third consecutive weekly trip to Washington. Prime Minister Ishiba Shigeru has instructed his top negotiator to seek common grou...

Metaplanet, known as Japan’s MicroStrategy, has revealed plans to raise $745 million to increase its Bitcoin holdings by two times within the next two years. The Japanese firm has been actively raising funds, securing over 1,700 Bitcoins in the last eight months. This aggressive BTC accumulation has benefited the company’s stock price, which has skyrocketed more than 2,000% since the company started investing in the leading crypto.  MicroStrategy’s Bitcoin strategy has influenced Metaplanet, whose goal is to accumulate a substantial amount of Bitcoins as part the firm’s 2025-2026 plan. Metaplanet Prepares For  ¥116 Billion For BTC Purchase In a Jan. 28 announcement, Metaplanet revealed that it issued 21 million shares of 0% discount moving strike warrants in a landmark capital raise. Through this issuance, the company is set to generate approximately ¥116 billion, which is around $745 million. These funds will be directed towards additional...

1. Japan Advances Economic Stimulus, Proposes 20% Unified Cryptocurrency Tax link The Japanese government has announced plans to advance a new economic stimulus package, expected to receive approval by the end of 2024. The proposed tax reforms include changes to income tax, corporate tax, and cryptocurrency taxation. Currently, Japan’s policy on crypto taxes relies on a vague and fluctuating “miscellaneous tax,” which can levy up to 55% on transactions. Opposition parties are advocating for a standardized 20% tax rate on digital assets. 2. South Korea to Implement 20% Crypto Gains Tax in 2025 link South Korea’s ruling Democratic Party plans to enforce a 20% tax on cryptocurrency gains (22% including local tax) starting in 2025, without further delay. Additionally, the tax exemption threshold will be raised from 2.5 million KRW (approximately $1,795) to 50 million KRW (around $35,919). The revised bill is set to be voted on by the National Assembly’s Tax Subcommittee on November 25 and ...

The cryptocurrency industry has seen the arrival of several major firms into its ecosystem. Following this cryptocurrency trail Sony, Japan’s multi-industry conglomerate has decided to acquire Amber Japan, a prominent crypto firm. Through this deal, Sony will be debuting into the cryptocurrency exchange sector. With a $100 billion market valuation, Sony has long spoken about diversifying its holdings. To build its portfolio, the company entered the crypto currency market. The commercial subsidiary of the company, Sony Network Communications, collaborated with the Japanese blockchain startup Startale Labs to create Sony ’s own public blockchain network last year. According to the announcement, WhaleFin has changed its name to S.BLOX Co. This entity intends to work with the other companies in the Sony Group to provide value for its crypto currency trading services. In addition, the update also Features a new, more user-friendly mobile app and a refresh of the user interface. Det...

In the early 2000s, before the creation of Bitcoin, a mommy blogger-type community of Japan ese housewives met via the internet and helped one another master a skill that would set them up to become some of bitcoin’s earliest and most successful traders . It is not a coincidence that Mt. Gox, Bitflyer, CoinCheck, Zaif, and Liquid (previously Quoinex and Qryptos) — crypto exchanges founded in Japan over a decade ago — once ranked among the most voluminous crypto exchanges. Japanese conglomerates SBI and Rakuten also rank among crypto’s most prolific investors, funding some of the earliest rounds of Ripple, Bitcoin miners, and an assortment of crypto’s oldest companies. Japan’s Mrs. Jones Most people have never heard of ‘Mrs. Watanabe’ — not a woman’s name but a nickname for a group of people. The term evokes a stereotypical Japanese housewife who has profitably traded foreign exchange (FX) while her husband works and can be likened to ‘Mrs. Jone...