Artifact Labs Raises $3.25M

JPYC Inc., the issuer and operator of the Japanese yen stablecoin JPYC, announced it is set to raise 1.78 billion yen ($11.4 million) in a funding round led by Asteria Corporation. The proceeds will be used to upgrade systems and applications, expand the company's workforce, and bolster services related to the issuance, redemption, and settlement of its stablecoin.  The firm also plans to explore new business opportunities through strategic investments as stablecoins shift from early-stage experimentation to wider commercial use. Currently available on Avalanche, Ethereum, and Polygon, JPYC intends to add support for additional blockchain networks and broaden its use cases.Photo by Possessed Photography on UnsplashUniversities ramp up blockchain trainingSeparately, blockchain education initiatives are advancing in Japanese academia. The Endowed Chair for Blockchain Innovation at the University of Tokyo’s Graduate School of Engineering will launch a new blockchain application practice program in the 2026 academic year. The hands-on track will complement the university's existing public lecture series.  The program will bring together students from diverse fields—including finance, cryptography, art, and product design—to collaborate on practical projects. Interdisciplinary teams will develop new concepts, with selected groups eligible for an entrepreneurship support initiative starting in September. Organizers noted the program aims to cultivate advanced talent while remaining platform-neutral. These developments coincide with the Japanese government’s broader push to integrate digital assets into the financial sector. In a video message at the “MoneyX 2026” crypto and Web3 conference on Feb. 27, Finance Minister Satsuki Katayama stated that the government is advancing efforts to support the broader adoption of stablecoins and tokenized deposits.  According to CoinPost, Katayama indicated the Financial Services Agency (FSA) will back pilot projects under its payment platform (PP) initiative in the securities settlement sector. These projects will test recording the transfer of rights for government bonds, corporate bonds, and equities on blockchain infrastructure, linking settlements to stablecoin payments.  New crypto bureauKatayama also announced plans to launch a new FSA bureau dedicated to digital financial assets as early as this summer, significantly expanding the agency’s organizational capacity. She urged industry participants to leverage the PP framework, particularly for regulatory interpretation support during proof-of-concept trials. Meanwhile, Hong Kong authorities are signaling further policy measures to strengthen the city’s crypto investment landscape. In his latest budget speech, Financial Secretary Paul Chan said the number of single-family offices in the city has exceeded 3,300 and outlined plans to refine the tax regime—including for digital assets—to attract more capital. The proposed revisions would expand the scope of what qualifies as a "fund," bringing certain single-investor vehicles under the definition. The changes would also classify digital assets, precious metals, and specific commodities as eligible investments for tax incentives. The government plans to table an amendment bill in the first half of the year, targeting implementation in the 2025/26 year of assessment.

India’s judiciary turns down plea to formulate a crypto regulatory frameworkThe Indian courts have declined a consideration targeting the establishment of a regulatory framework for cryptocurrency trading, following a plea which had been brought to court by a petitioner.Photo by Naveed Ahmed on UnsplashBeyond the court’s purviewIndia’s Supreme Court, led by Chief Justice Chandrachud, recently confronted a petition urging the establishment of a regulatory framework for cryptocurrency trading. According to a local media report, the bench, which included Justices JD Pardiwala and Manoj Misra, dismissed the plea, emphasizing that the demands presented were legislative and thus beyond the court’s direct action purview. This decision points to the judiciary’s recognition of its constraints in crafting laws, particularly in intricate domains like cryptocurrency.The petitioner, Manu Prashant Wig, a former director at Blue Fox Motion Picture Limited currently in custody due to allegations of cryptocurrency fraud, sought relief through a public interest litigation (PIL) for crypto trading regulations in India.The Economic Offence Wing (EOW) of the Delhi Police accused Wig in 2020 of deceiving investors with promises of high returns from crypto investments, involving 133 reported victims of the scheme. Despite this, during the hearing, the Supreme Court advised Wig to pursue legal remedies through appropriate channels, specifically for bail, underlining its inability to issue directives under Article 32 of the Constitution for legislative matters.Judiciary criticize governmentWhile the judiciary has found that it cannot act itself in putting in place a crypto regulatory framework, the Supreme Court has been critical of the government’s inaction on the matter. In July, India’s highest court criticized the Indian government for its failure to establish clear cryptocurrency regulations.Interestingly, while the government hasn’t acted locally, it has been making efforts to drive regulation at an international level instead. The status of cryptocurrency trading in India remains uncertain, with the country developing a regulatory framework influenced by recommendations from the International Monetary Fund (IMF) and the Financial Stability Board (FSB), potentially leading to legal legislation within the next several months.Prime Minister Modi called on authorities internationally to establish a worldwide regulatory framework. At the recent G20 summit, it appears that member states did reach agreement on such a framework.The Supreme Court’s dismissal of the PIL marks a clear distinction between judicial and legislative responsibilities. As India moves closer to formulating a comprehensive crypto regulatory framework, this decision reinforces the imperative for legislative action to address mounting concerns and interests in the crypto market.Awaiting legislative actionThe outcome of these developments is keenly awaited by investors, legal experts and the crypto community, poised to shape the future landscape of cryptocurrency trading in India. The decision signifies the judiciary’s acknowledgment of its limitations and highlights the necessity for a legislative approach to effectively navigate the intricate landscape of cryptocurrency regulation.In this evolving scenario, the verdict amplifies the importance of a well-defined regulatory framework. As the world’s most populous country grapples with the delicate task of balancing innovation and investor protection, the Supreme Court’s decision places the ball firmly in the legislative court.

Metaplanet Inc., a Tokyo-listed crypto investment and consulting firm, has announced its adoption of Bitcoin as its strategic treasury reserve asset. This decision comes in response to the ongoing economic challenges facing Japan, including high government debt levels, prolonged negative real interest rates, and a weakened yen. Japan currently faces significant economic adversity, with the highest government debt-to-GDP ratio among developed countries at 254.6%, according to the International Monetary Fund. Despite the government's decision to raise interest rates in March, the Japanese yen experienced a sharp decline to its lowest level in 34 years last month, as reported by Reuters.Photo by Takashi Miyazaki on UnsplashBitcoin as a store of valueMetaplanet Inc. highlighted Bitcoin's attributes as a non-sovereign store of value that has demonstrated appreciation against fiat currencies. The firm noted that Bitcoin's monetary policy is predetermined and immutable, with a maximum supply of 21 million coins set to be reached by the year 2140. This characteristic distinguishes Bitcoin from traditional monetary metals and other cryptocurrencies subject to centralized control. Strategic approachIn its official release, Metaplanet Inc. stated its intention to leverage a variety of capital market instruments to enhance its bitcoin reserves. As of May 10, the company reportedly held 117.7 BTC, equivalent to $7.2 million, according to data from Bitcointreasuries.net. This move reflects Metaplanet's strategic response to Japan's economic conditions and its commitment to diversifying and growing its assets in the cryptocurrency space.