Japan Relaxes Rules for Crypto Brokerages
Japan, on the other hand, has been working aggressively to keep pace with the global crypto race.
The country has introduced an amendment bill that lets crypto companies work as intermediaries. This means they no longer require the same kind of licenses as crypto exchanges and crypto wallet operators do.
Stablecoin issuers will also be able to use Japanese and US government bonds to back their coins.
Earlier, these issues had to maintain cash deposits in bank accounts in a ratio of 1:1 to the total amount of tokens in circulation.
However, issuers can now use bonds to back just 50% of this amount, while the rest will be held in cash.
Crypto brokerages will also be relieved from the application of anti-money laundering regulations, which will reduce the barrier to entry. There are also talks of reducing the tax on crypto from 55% to 20%.
Quite clearly, Trump has sent a lot of nations into a frenzy with talks of the US Bitcoin reserve, which should all ultimately benefit the underlying asset, i.e., Bitcoin.
After all, there can hardly be a price mover bigger than the support of the world’s governments themselves. If you, too, want to benefit from the mounting global interest in Bitcoin, read on for more about Bitcoin’s official meme coin, BTC Bull Token ($BTCBULL).
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BTC Bull Token is a one-of-a-kind meme coin offering real (and free) Bitcoin every time $BTC reaches a new milestone, such as $150K, $200K, $250K, and so on.
This gives you a unique opportunity to ride Bitcoin’s upcoming rallies without actually investing a hefty sum of money. That said, you’d need to buy and hold $BTCBULL in Best Wallet to be eligible for the $BTC airdrops.
