Japan Shifts Towards Crypto
News is emerging that Japan's Financial Services Agency (FSA) is planning a significant overhaul of its cryptocurrency regulations. They intend to classify cryptocurrencies as financial products similar to securities. The proposed changes include lifting the ban on Bitcoin spot ETFs and reducing the tax rate on crypto-assets from the current 55% to 20%. The new policy is expected to be announce by June 2025.
Crypto ETFs Update
Odds for several crypto ETfs are steadily increasing with Litecoin , Dodgecoin, SOL, and XRP leading the way. Today the SEC acknowledged 4 more additional ETFs filings for Solana. Currently the betting market at Polymarket believes SOL is currently at 82% for approval.
Quick Hits
- Fed Chair Jerome Powell says the Federal Reserve will never create a Central Bank Digital Coin (CBDC)
- Blackrock the large asset manager in the WORLD with the biggest Bitcoin ETF just labeled BTC as a "Risk Off" asset.
- Oklahoma Bitcoin bill passed Committee phase and is moving toward a vote in the House.
- Metaplanet plans to buy 21k more BTC by 2026, that's 2 billion as todays value.
- Microstrategy buys 7.6k more BTC for $742m
- Sol Strategies (CYFRF)- Publicly traded company with the largest holder of Solana just bought another 24,374 SOL.
- North Carolina becomes the latest state to propose crypto legislation.