Cryptocurrency News From Japan: August 2

Published on by Cointele | Published on

Coincheck setting up for digital shareholder service.

As Tokyo-based crypto exchange Coincheck readies its new digital meeting avenue, the exchange's co-founder expressed confidence in the project.

Known as Sharely, unveiled in June 2020, the digital shareholder gathering solution allows for participant inquiries and voting, as well as the option for simple non-interactive viewing.

Digital asset exchange GMO Coin recently unveiled a leverage trading fee incentive when trading the Japanese yen against Bitcoin.

Formally called a negative trading fee, participants will receive a small payment - 0.035% of the trade - for taking leveraged trades instead of paying a fee.

Crypto exchange Decurret and Kansai Electric Power conducted a proof-of-concept, or PoC, study in March 2020, essentially testing digital power transactions via a blockchain-based solution.

"The study confirmed the effectiveness of automated settlement of P2P electricity trades using unique digital currency issued for the KEPCO project on a blockchain platform for issuance and management of digital currency built by DeCurret," Decurret said it its report.

In a collaborative effort, the Japan Virtual Currency Exchange Association, or JVCEA, and the Japan Cryptocurrency Business Association, or JCBA, proposed tax alterations for 2021.

Among several suggested changes, the proposal included a tax exemption in line with crypto profits, and a "20% tax separation based on declaration" for crypto profits, Cointelegraph Japan detailed.

Japanese finance business FISCO is currently working on a number of solutions, including an app hosting smart contract-based shareholder voting capability, as well as staking apps for its own FISCO Coin - an asset used in the company's apps and solutions.