The National Tax Agency’s NFT guidelines attract attention, lending company Genesis files for bankruptcy
news of the week
We will deliver the news of the week (1/14-1/20) together.
The most widely read news item this week was that the National Tax Agency released a document outlining the general tax treatment of NFTs (non-fungible tokens).
Regarding the crypto asset (virtual currency) market, the report on the 16th, which summarizes the recovery of Bitcoin (BTC) to the $21,000 level and the soaring of Solana (SOL) related stocks, is attracting attention.
In addition, an article that wrote that Genesis Global Capital, a cryptocurrency lending company, has filed for bankruptcy has also attracted a lot of attention.
- table of contents
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- This week’s news ranking
- Market news ranking
- Virtual Currency/Blockchain Industry News
This week’s news ranking
1st place: National Tax Agency presents important guidelines on taxation of NFT transactions such as blockchain games (1/16)
On the 13th, the National Tax Agency released a document summarizing the general tax treatment of NFTs. In addition to cases where income tax is levied, guidelines are also provided for cases where consumption tax is applied. (the article ishere)
2nd place: Binance announces delisting of stocks (1/19)
Cryptocurrency exchange Binance announced on the 19th that it will delist the privacy-related stock BEAM. It explains that BEAM/USDT will not be available from 18:00 on January 26, Japan time. (the article ishere)
3rd place: Coincheck parent company Monex Matsumoto president interested in acquiring FTX Japan = news (1/17)
Dai Matsumoto, president and CEO of Monex Group, the parent company of cryptocurrency exchange Coincheck, expressed interest in acquiring FTX Japan, a Japanese subsidiary of FTX, on the 16th. He declined to comment on whether he would participate in the FTX Japan bid, while explaining that he was “generally interested.” (the article ishere)
Market news ranking
1st place: Bitcoin recovers to the $21,000 level due to significant rise, Solana-related stocks soar across the board (1/16)
In the virtual currency market, Bitcoin rose 1.94% from the previous day to $ 21,166. With Bitcoin’s sharp rebound, funds have also flowed into altcoins, and Solana’s ecosystem stocks have risen across the board. (the article ishere)
2nd place: Virtual currency market decline, concerns over the US Department of Justice also pushed down (1/19)
Bitcoin dropped 2.55% from the previous day to $20,750. Markets were also dragged down by widespread speculation that the U.S. Department of Justice would be streaming a cryptocurrency-related “international enforcement action” that could be linked to the Binance money laundering scandal. (the article ishere)
3rd place: Bitcoin is currently on the rise in Asian time, US stock correlation index is at the lowest level in a year (1/20)
According to Arcane Research’s weekly report, the correlation between the US stock market and Bitcoin has been declining for some time now. The 30-day correlation index fell to the lowest “0.29” since December 2009. (the article ishere)
Virtual Currency/Blockchain Industry News
Virtual currency lending company Genesis files for bankruptcy, creditors such as Gemini and Van Eck (1/20)
Crypto lending firm Genesis Global Capital has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. Creditors include Gemini and Van Eck. (the article ishere)
Bank of Japan monetary policy meeting, “yen depreciation, dollar strength” sharp rise due to continued easing Nikkei stock average and yen-denominated bitcoin rise (1/18)
The Bank of Japan decided to maintain large-scale monetary easing measures at its monetary policy meeting held on the 17th and 18th. In the midst of rising pressure on interest rates due to concerns over the risk of revisions to the easing that continued in December last year, the foreign exchange market (FX), which had been cautious, saw the yen depreciate and the dollar appreciate significantly immediately after the announcement. (the article ishere)
Recommended for cryptocurrency investors, advantageous shareholder benefits “10 selections” (1/15)
If you are going to invest, you want to consider options that will save you money, help your family budget, and enrich your life. In this article, we have carefully selected shareholder benefits recommended by CoinPost from among the many shareholder benefits brands, and introduced 10 selections, including 7 in the general category and 3 in the women’s category. (the article ishere)
What impact will the Shanghai upgrade scheduled for March have on the Ethereum market? (1/14)
The next upgrade of Ethereum (ETH), “Shanghai,” is expected to be implemented around March 2023. With staked Ethereum being able to be withdrawn, there is growing interest among market participants about its impact on prices. (the article ishere)
“Market recovery is U-shaped, not V-shaped” Bitwise predicts the virtual currency industry in 2023 (1/16)
Cryptocurrency investment firm Bitwise released its top 10 predictions for the cryptocurrency market in 2023 in a letter to investors on the 11th. It is not easy for the market to recover after experiencing one of the largest bear markets in history. He said it would be the biggest ever. (the article ishere)
FTT soars FTX considers reopening of virtual currency exchanges (1/20)
The CEO of bankrupt FTX, John J. Ray, has reportedly been considering reopening the exchange. He explains why he is considering reopening. (the article ishere)
Coinbase officially announces business review to suspend virtual currency trading services in Japan (1/19)
US-based major cryptocurrency exchange Coinbase officially announced on the 18th that it will suspend transactions with existing Japanese customers and conduct a full review of its Japanese business. The company explained that the reason for reviewing its business in Japan was a change in the market environment. (the article ishere)
Weekly Virtual Currency News | The National Tax Agency’s NFT guidelines attract attention, lending company Genesis files for bankruptcy, etc. Our Bitcoin News.