Ozys Expands into Japanese Web3 Ecosystem Through Partnership with GensoKishi

Indian PM Narendra Modi Calls for Global Crypto Regulatory FrameworkAmid the rising tide of emerging technologies like cryptocurrency and artificial intelligence, Indian Prime Minister Narendra Modi has emphasized the urgent need for a worldwide regulatory framework to ensure user safety and ethical utilization.His remarks were delivered at the G20 Summit India 2023, where he stressed the importance of cohesive global efforts in shaping the future of technological advancements.Photo by Shubham Dhage on UnsplashG20 PresidencyIndia, currently holding the G20 Presidency for 2023, has taken a strong stance in advocating for the establishment of a comprehensive global regulatory framework for cryptocurrencies. Earlier this month, the country released a presidency note outlining its insights into the proposed framework.These recommendations are closely aligned with the guidelines set forth by authoritative bodies such as the Financial Stability Board (FSB), the Financial Action Task Force (FATF), and the International Monetary Fund (IMF).Notably, India’s presidency note extended its considerations beyond established economies to include provisions for developing nations relative to crypto. At the time, it was revealed that a collaborative “synthesis paper” was in the works, jointly crafted by the IMF and the FSB. This paper, set to be unveiled by the end of August, will delve into the global macro implications stemming from the adoption and growth of cryptocurrency. The timing of this release is particularly significant, coinciding with the upcoming G20 Summit scheduled for September 9.Establishing a global frameworkAddressing the G20 Summit, Prime Minister Modi articulated his vision for a world unified under a comprehensive regulatory framework not only for cryptocurrencies but also for the ethical utilization of emerging technologies like artificial intelligence. In an interview with media platform Business Today, he emphasized the reality of rapid technological progress sweeping across the globe. Instead of dismissing or wishing away these advancements, Modi underscored the need for proactive adoption, democratization, and a unified global approach.Modi’s perspective underscores his support for a harmonized global strategy when it comes to formulating regulatory frameworks for emerging technologies. Drawing a parallel with the aviation industry, he highlighted how air traffic control and air security are governed by common global rules and regulations, illustrating the effectiveness of a consensus-based model.Expanding on the implications of India’s G20 presidency, Modi shed light on the deliberations centered around cryptocurrency’s potential impact within broader macroeconomic contexts, particularly within emerging and developing economies.Regulatory needs at a national levelWithin India, various stakeholders have been struggling with the regulation of cryptocurrencies themselves. In July, the Indian Supreme Court criticized the government for its failure to establish clear crypto-related regulations. The country’s central bank, the Royal Bank of India (RBI), has been less enthusiastic about decentralized cryptocurrency, warning of the risks extended by stablecoins more recently. Instead, it has proven to be far more interested in advancing the use of permissioned blockchain networks and a central bank digital currency (CBDC).The proposition of a globally accepted set of guidelines for cryptocurrency regulation has garnered substantial support from authorities worldwide as they begin to understand the difficulty that decentralized technology presents in terms of controlling it. If Modi’s vision translates into reality, it could mark a significant step toward standardizing the governance of cryptocurrencies on an international scale.

Binance APAC Head Urges the Korean FIU to Approve Gopax’s Exec ChangesIn a recent interview with Yonhap News, Leon Sing Foong, Binance’s head of Asia-Pacific operations, emphasized the importance of the Korean financial regulator approving the change of executives at Gopax, a Korean crypto exchange.©Pexels/freestocks.orgDelayed staked asset returnFoong’s comments came in the face of mounting worries regarding the delayed repayment of assets stored in Gopax’s staking service GOFi. He explained that 25% of the assets staked in GOFi have been repaid, and the remaining assets will be refunded after approval of the Financial Intelligence Unit (FIU) of the Korean Financial Services Commission (FSC) is secured.Foong was appointed as the new CEO of Gopax last February, with Binance becoming the largest shareholder of Gopax’s operator Streami. In March, Gopax submitted an application to the FIU to inform them of the executive changes, as required by Korean law.However, the application review has been delayed amid concerns about the unclear location of Binance’s headquarters and its regulatory challenges in the US.Controlling staking servicesThe Binance executive believes Gopax’s staking service should be controlled by the exchange itself, rather than a third party. The current GOFi issue emerged due to Gopax’s management of its custody assets through crypto lender Genesis, which ceased trading following the FTX bankruptcy. Foong stated that Binance will require Gopax to maintain reserves of over 100% and eventually phase out the third-party-based service.According to Foong, Gopax’s business model will remain unchanged, and the exchange will work alongside Binance to bolster liquidity within the local market while enhancing both infrastructure and security measures. He considers internal risk management as Gopax’s top priority.Risk assessmentFoong also expressed confidence in the upcoming risk assessment of Gopax by Jeonbuk Bank, recently requested by the Korean Financial Supervisory Service (FSS). He said that the exchange is healthy, and that Binance has high-level anti-money-laundering (AML) capabilities.Korean law mandates crypto exchanges supporting Korean won trading have real-name bank accounts, and Gopax receives such accounts from its partner Jeonbuk Bank.Binance’s Asian expansionBinance’s endeavor to enter the Korean market is part of its strategy to expand its presence in Asia. It was previously reported that Binance Japan will start its operations around June this year.

Metaplanet, a Japanese Bitcoin treasury company listed on the Tokyo stock exchange, is targeting a holding of 10,000 BTC in 2025.2025 targetTaking to the X social media platform on Jan. 5, the company’s CEO, Simon Gerovich, set out a number of objectives which the company will strive to reach in 2025. Among them is the objective to expand the company’s Bitcoin holdings to 10,000 BTC. Gerovich said that the expansion of the firm’s Bitcoin holding would be achieved “by utilizing the most accretive capital market tools available to us.” He followed up on Jan. 6 with an announcement that Metaplanet has completed its 12th series stock acquisition rights. Gerovich claimed that the successful completion of the stock issuance marked “a milestone in Metaplanet’s financing and Bitcoin acquisition strategy.” The 12th series stock issuance was first announced back in November, with a six-month exercise period opening on Dec. 17. Additionally, the company issued 4.5 billion yen ($28,562,451) and 5 billion yen ($31,736,057) in ordinary bonds, with a maturity date of June 2025. Other objectives the company has set out for 2025 include enhancing transparency and shareholder engagement through new initiatives. Furthermore, Metaplanet intends to leverage its partnerships to advance Bitcoin adoption in Japan and further afield. Gerovich said that Metaplanet will explore innovative opportunities to grow the firm’s impact in Japan and within the Bitcoin ecosystem.Photo by Vasilis Chatzopoulos on Unsplash2024 ‘transformational’The Metaplanet CEO claimed that 2024 had been “transformational” for the company. He added: “We broke records, expanded our Bitcoin treasury, and reinforced our position as Asia’s leading Bitcoin Treasury Company.” Shifting its attention to 2025, the firm is focused on its efforts to drive greater value for shareholders. Metaplanet’s fortunes are now heavily dependent upon the performance of Bitcoin. In an interview at a New Year’s Eve party held in Miami by Microstrategy founder Michael Saylor, Gerovich commented on Bitcoin adoption, stating:"I’m slowly but surely seeing Bitcoin becoming a topic of discussion at the highest levels of government. Corporations around the world are beginning to adopt it as a Bitcoin standard." The Metaplanet CEO is optimistic that the U.S. will adopt a strategic Bitcoin reserve once the Trump administration commences. Should that happen, he believes that other countries will follow. He sees Japan as one of those countries where they do look to the U.S. as a guide on such matters. “So I think if President Trump does adopt it as a strategic reserve, then Japan and many countries in Asia will do the same,” he stated. Metaplanet is understood to be pursuing a business model very similar to the one pioneered by Microstrategy in the United States. The company increased the rate at which it acquired Bitcoin in H2 2024. Metaplanet made its first Bitcoin purchase in April 2024. At that time, its stock was trading at $1.90. Just as the Bitcoin unit price surged, so too did Metaplanet stock, closing the year at $22.05 per share.