South Korean Job Seekers to Benefit from Digital Badges for License Credentials

Japan's parliament passed landmark legislation on July 15 reclassifying cryptocurrencies as financial products under the Financial Instruments and Exchange Act, removing them from the Payment Services Act framework that had treated them as a means of settlement. According to CoinPost, the reform introduces insider-trading rules to the sector for the first time, raises penalties for unregistered dealing, and clears the way for domestic crypto ETFs. Under the changes, crypto exchange operators will be redesignated as "crypto asset trading businesses," and unregistered sales will carry prison terms of up to 10 years and fines of up to 10 million yen ($61,000), up from three years and 3 million yen. Gains will move from comprehensive taxation (where combined income and residence taxes can reach 55%) to a separate flat tax of around 20%, with losses eligible for a three-year carryforward, though those tax measures take effect only once the amended law is in force. If enforcement falls in fiscal 2027, the new rate would apply from Jan. 1, 2028.Photo by Kanchanara on UnsplashWeak yen drives crypto adoptionThe overhaul lands as Japanese companies increasingly turn to cryptocurrency as a treasury asset, with the yen's prolonged weakness pushing them to diversify their cash strategies, SBI VC Trade, the crypto exchange arm of financial conglomerate SBI Holdings, said. The exchange said it is seeing greater uptake of SBIVC for Prime, its service for corporate and large-lot clients, from companies looking to hold and use crypto. It is also fielding more business from listed firms that distribute Bitcoin (BTC) or XRP to shareholders through benefit programs, a practice the company said is spreading in Japan. The comments accompanied SBI VC Trade's announcement that its registered accounts topped 2 million as of July 6, double the 1 million it reported in 2025. The Tokyo-based firm attributed the growth in part to its April 2026 merger with fellow SBI Group exchange BitPoint Japan and to its stablecoin business. SBI VC Trade is Japan's only registered electronic payment instruments trading firm, the license category covering stablecoins. The company began offering USDC, the first U.S. dollar-denominated stablecoin available in Japan, in March 2025. In June 2026 it added JPYSC, which it describes as the country's first yen-denominated trust-type stablecoin, along with Ripple's dollar-pegged RLUSD, and launched a stablecoin lending service. The exchange plans to merge its two service brands around the end of December 2026. Separately, SBI Crypto, the group's mining unit, said it will shut down its mining pool on July 31. The pool will stop accepting mining shares at 7 a.m. Japan time, and the company urged customers to keep directing hashrate to the pool until the cutoff so that all eligible shares are included in the final payout. SBI Crypto said it has held discussions with other pool operators, some of which may offer preferential terms to migrating clients. Metaplanet expands into securitiesIn another sign of crypto's deepening ties with Japanese finance, Siiibo Securities, an online platform for privately placed corporate bonds, has changed its name to Metaplanet Securities after joining the Metaplanet group, the Tokyo-listed company known for its large BTC treasury. Siiibo, which holds a Type I financial instruments business license, said it plans to build a platform combining BTC and finance, developing products for retail investors that draw on its new parent's BTC management expertise while continuing to serve yield-seeking investors. Remixpoint discloses crypto yieldsListed energy and crypto firm Remixpoint, meanwhile, disclosed returns on its digital asset holdings as of the end of June. The company said it has earned a cumulative 9.95 BTC, worth roughly 108 million yen based on monthly average rates, from lending its BTC. Staking of altcoins has generated about 27.9 million yen in total, comprising roughly 10.1 million yen from ETH and 17.8 million yen from SOL, the company said, adding that it will continue building a financial structure that generates recurring income. 

Mt. Gox Extends Repayment Deadline to 2024In a development that has captured the attention of the cryptocurrency community, failed Japanese crypto exchange Mt. Gox has officially announced a one-year extension of its repayment deadline.The decision, authorized by the Tokyo District Court, represents a one-year delay from the previously stipulated date of October 31, 2023.Photo by Andre Benz on UnsplashInfamous collapseAt its height, Mt. Gox was the world’s largest cryptocurrency exchange, facilitating over 70% of all cryptocurrency trades. However, its fall from grace began in 2014 when it fell victim to a colossal hack, resulting in the loss of 850,000 Bitcoins. The collapse left approximately 24,000 creditors in its wake, each of them agonizing over a multi-year period for the return of their digital assets.In a letter dated September 21, Rehabilitation Trustee Nobuaki Kobayashi announced the extension of the repayment deadline. This extension applies to the base repayment, early lump-sum repayment, and intermediate repayment, all of which have been rescheduled to October 31, 2024.The rationale behind this delay is twofold. Firstly, to provide creditors with additional time to furnish essential information required for the repayment process. Secondly, it will allow the trustee to coordinate with associated banks, fund transfer service providers, and cryptocurrency exchanges to facilitate the repayments.Potential payout for diligent creditorsA glimmer of hope exists for creditors who have diligently provided the necessary information. Repayments may commence sequentially as early as the close of this year. That said, it should be noted that the specific timing of repayments for each creditor remains uncertain.Kobayashi emphasized that the schedule is subject to change depending on circumstances, and further adjustments are possible. The Mt. Gox Debtor has encouraged creditors who have as yet not provided required information to facilitate payments to do so.Naturally enough, long suffering creditors are frustrated by this latest update. Taking to X (formerly Twitter), one user named “Mt.Gox’ed” wrote: “People will not get their Mt.Gox money back.” . . . “I’ve been tweeting for a long time that infinite delays are coming.”The move evoked a similar response from distressed debt specialist Thomas Braziel, who wrote: “Another delay from the MtGox trustee’s office — COME ON!”Mt. Gox’s journey towards rehabilitation has been arduous and protracted since its declaration of insolvency in 2014. Legal battles, extensive delays, and the need for meticulous coordination have all contributed to this postponement. Nonetheless, creditors are holding onto the hope that, with this extension, the path to recovering their lost assets will become smoother.Crypto market impactThis latest news has drawn considerable attention within the broader crypto sector as it may have implications for the market as a whole. The repayment delay holds the potential to impact Bitcoin prices, given the sheer volume of tokens that will be released when repayments begin. The Mt. Gox estate holds 142,000 BTC, 143,000 BCH, and 69 billion JPY.As per UBS analysts, while this influx of funds could influence the market, it is unlikely to destabilize Bitcoin. Notably, the recovery of approximately 20% of the stolen tokens after the hack reflects a positive step in the ongoing rehabilitation process.

The People’s Bank of China (PBOC) plans to roll out a new structure for its central bank digital currency (CBDC) operations, moving the digital yuan into a deposit-based role within the commercial banking system beginning Jan. 1, 2026. Lu Lei, a deputy governor of the PBOC, announced the update, marking a new direction after nearly a decade of pilot programs. According to a report by FTChinese, the move fits into Beijing’s broader economic planning, as authorities seek to reinforce China’s role in global finance while containing risks tied to loosely regulated digital activity. The deputy governor said China will continue to run the digital yuan under a two-tier system, with the central bank responsible for rules and infrastructure, while commercial banks manage wallets, payments, and compliance. He added that the arrangement is designed to prevent banks from being sidelined and to limit shadow banking risks associated with digital payment platforms outside the regulated system.Photo by Eric Prouzet on UnsplashDigital yuan transactions top $2.3TThe announcement comes as use of the digital yuan, known as the e-CNY, continues to rise. By late November 2025, the system had handled 3.48 billion transactions with a total value of 16.7 trillion yuan ($2.3 trillion). There are about 230 million personal wallets and 18.84 million corporate wallets. Beyond domestic use, the e-CNY is being positioned for international trade. Lu pointed to progress on mBridge, a cross-border payments project involving multiple central banks. The platform has processed 4,047 transactions worth the equivalent of 387.2 billion yuan ($55.3 billion), with the digital yuan accounting for about 95.3% of the settlement value. The deputy governor also sounded a note of caution on private-sector innovation, saying the rapid growth of digital assets and stablecoins could complicate the conduct of monetary policy. He said central banks need to ensure that new payment tools do not undermine macroeconomic stability or allow money to circulate beyond regulated channels. Hong Kong to license crypto dealers, custodiansAs Beijing moves to strengthen its state-backed currency framework, Hong Kong is also tightening oversight of the crypto market. On Dec. 24, the city’s Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) released their conclusions on proposed legislation to regulate virtual asset dealing and custodial services. Following the implementation of the Stablecoins Ordinance in August, regulators are now moving to require firms offering crypto dealing or custody services in Hong Kong to obtain licenses and operate under regulatory supervision. They also began seeking feedback on whether to extend oversight to virtual asset advisory and management providers, with the proposed framework modeled on existing securities market rules. In a separate development underscoring the contrast between state-backed and decentralized digital currencies in the region, reports this month pointed to a sharp drop in Bitcoin network activity linked to mainland China. BTC hashrate drop seen amid China mining changesKong Jianping, CEO of Nasdaq-listed Web3 infrastructure firm Nano Labs, said on the social media platform X that the global Bitcoin network’s hashrate fell by about 100 exahashes per second, or roughly 8%, around Dec. 15. He attributed the decline to the shutdown of an estimated 400,000 mining rigs, mainly in Xinjiang. A lower hashrate means less computing power is securing the network, reducing competition among miners that validate transactions. China has maintained a broad ban on crypto trading and mining since 2021. Industry outlet Wu Blockchain said the reasons for the latest shutdowns were unclear.