Indian Investors Explore Alternatives to Bitcoin as Japan Eases Crypto Tax Regulations: Asia Express

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 3 hour ago

Indian Crypto Portfolio Diversification: A recent survey by CoinDCX reveals that Indian crypto holders are diversifying their portfolios, now averaging five tokens each, up from two to three in 2022, indicating a shift away from Bitcoin-centric investments.
Ripple's Expansion in Singapore: Singapore's central bank has approved Ripple's expanded payment services, allowing the company to enhance its infrastructure for financial institutions in the region, highlighting Singapore's role as a hub for crypto innovation.
Japan's Proposed Crypto Tax Reform: Japan is considering a flat 20% tax on cryptocurrency gains, aligning it with stock tax treatment, which could attract more investment into the crypto sector and provide relief for high-income earners.
Increased Regulation in Japan: Alongside tax reforms, Japan's Financial Services Agency plans to implement stricter regulations for cryptocurrency exchanges, requiring them to maintain liability reserves to protect against potential hacks or unforeseen events.

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Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.