Japan Maintains Cautious Stance Amid Global Bitcoin Reserve Conversations
by aria-crypto.com
December 26, 2024 at 06:33
Japan Maintains Cautious Stance Amid Global Bitcoin Reserve Conversations
Despite significant global interest in adopting Bitcoin as a reserve asset, Japan remains cautious, emphasizing regulatory and market stability concerns. Finance authorities in Japan underlined the volatility of Bitcoin, declaring it incompatible with their current foreign exchange and reserve frameworks. Prime Minister Shigeru Ishiba, addressing inquiries from Senator Satoshi Hamada, stated the Japanese government lacks detailed information on international moves toward Bitcoin adoption as a strategic reserve. U.S. discussions about a Bitcoin reserve, influenced by figures like Senator Cynthia Lummis and incoming initiatives by Donald Trump, contrast sharply with Japan’s stance. Japanese officials are firm in maintaining that their foreign exchange reserves prioritize liquidity and stability over the incorporation of highly volatile assets like cryptocurrencies. Critiques from financial experts, such as Miles Jennings of a16z, highlight the risky nature of transferring traditional reserves to Bitcoin, pointing out the potential benefits to BTC holders rather than the broader economy. As debates continue, Japan’s cautious approach reflects a broader hesitation to disrupt their established financial practices with the unpredictable nature of digital currencies.
Read more
>> Russia's Crypto Conundrum: Strategic Bans Impose New Challenges for Miners
Russia has implemented a ban on cryptocurrency mining in 10 regions until 2031, driven by concerns over high energy consumption. Deputy Prime Minister Alexander Novak indicated that this ban could extend furthe...
>> Crypto Trends 2025: MicroStrategy's Blueprint Inspires Corporate Bitcoin Investments
The concept of corporations incorporating bitcoin into their balance sheets, popularized by MicroStrategy, is anticipated to significantly influence the crypto market by 2025. According to a Wintermute analyst,...
8 hours ago
>> AMF Reports Sharp Increase in French Crypto Frauds Among Financial Scams
France is confronting a significant rise in financial scams, precipitated largely by crypto-related frauds, according to the Autorité des Marchés Financiers (AMF), with annual losses estimated at €500 million. ...
>> Bitcoin Strategy Takes Shape at NYSE-Listed KULR with $21M Acquisition
NYSE-listed KULR Technology Group, Inc. has recently purchased 217.18 Bitcoin at a cost of approximately $21 million. This acquisition, at an average price of $96,556.53 per Bitcoin, marks a significant move in...
10 hours ago
>> Brazil Faces Complex Challenges and Opportunities with New Stablecoin Regulations
Brazil’s central bank, the Banco Central do Brasil (BCB), has recently proposed banning stablecoin transactions to self-custodial wallets, such as MetaMask or Trezor, with a potential law expected to take effec...
12 hours ago
>> South Korea Escalates Measures Against North Korean Crypto-Related Cybercrimes
South Korea has unveiled sanctions against 15 North Korean individuals and one organization for their involvement in cryptocurrency thefts and cybercrimes. These actions are part of a concerted effort to disman...
>> Israel to Integrate Bitcoin Into Mainstream Finance with New Fund Launches
As Israel steps further into the cryptocurrency realm, the Israel Securities Authority (ISA) has greenlit the launch of six investment funds that will track Bitcoin's price movements. These funds, set to debut ...
16 hours ago
>> Crypto Trading Made Easier with FixedFloatBot on Telegram
FixedFloat, a prominent cryptocurrency exchange, has recently launched FixedFloatBot on Telegram, enhancing the convenience of crypto trading. This integration allows users to directly manage their transactions...
>> Russia Pivots to Bitcoin Amid Economic Sanctions: An In-Depth Look
Russia has commenced utilizing Bitcoin and other cryptocurrencies to facilitate international trade in response to Western sanctions, according to Finance Minister Anton Siluanov. Recent legislative changes hav...
20 hours ago
All the latest crypto news in one place
Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Launch Terminal
