CoinBureau – Japan Is BACK in the Game! Could This Trigger the Next Bull Run? (19.12.2024 Summary)

After years of strict rules that stifled its crypto industry, Japan is making a bold return to the scene - and it could have a huge impact. According to CoinBureau, Japan’s government has started relaxing its restrictive crypto regulations, setting the stage for a potential surge in market activity. If you’re into crypto, this is a trend you can’t ignore.

Here’s the backstory: Japan was once a crypto pioneer. It led the world in Bitcoin trading and was home to Mt. Gox, which handled 70% of BTC trades in the early 2010s. But after the infamous Mt. Gox collapse and other disasters, Japan cracked down hard with strict laws. Local exchanges struggled under heavy taxes, limited trading options, and bans on foreign-issued stablecoins. Meanwhile, crypto giants like Binance flourished in friendlier regions.

Fast forward to now, and things are changing. Under Prime Minister Fumio Kishida, Japan is working to revive its crypto industry. Unrealized crypto gains are no longer taxed, and rates might drop to 20%, matching stocks. Foreign stablecoins like USDC are being welcomed, and a Yen-based stablecoin with better usability is in the works. These moves could attract both businesses and investors back to Japan.

Why does this matter? Japan is a wealthy nation, and its currency, the Yen, already plays a key role in global crypto trading. If crypto becomes more accessible and tax-friendly, billions could flow into the market. Some estimates suggest up to $130 billion could re-enter Japan’s crypto economy - a sum big enough to shake up the industry worldwide.

CoinBureau’s take? Japan is back and could trigger the next big crypto bull run. If the reforms hold, we might see Japan return to its place as a global crypto leader. Stay tuned - this could be the start of something huge.