Asia's weekly TOP10 crypto news (Dec 16 to Dec 22)
1. Bank of Japan Maintains Interest Rates Unchanged link On December 19, the Bank of Japan announced it would maintain its unsecured overnight call rate at 0.25%, leaving the policy rate unchanged. The yen weakened against the dollar, dropping to 155 for the first time since November. This marks the central bank’s third consecutive pause on rate hikes, with the decision passed by an 8-to-1 vote. 2. Japan’s Crypto Tax Reforms May Take Shape by 2025 link At a joint meeting of the Tax System Committees and Tax Research Committees of Japan’s Liberal Democratic Party and Komeito Party, the final outline of the 2025 fiscal tax reform was approved. Currently under “review,” the reforms may introduce a 20% separate self-assessment tax rate for cryptocurrencies and a loss carryforward system. The outline also confirmed an increase in the deduction amount to 1.23 million yen. Japan’s current cryptocurrency tax rate reaches as high as 55%, significantly higher than other countries, undermining th...