Oasys and XPLA to Host Hackathon Promoting Blockchain Interoperability

Japan Progresses With Web3 White Paper ReleaseJapan has released a white paper on Web3, with the aim of promoting the growth of the crypto industry in the country. The white paper, titled “Web3 for All: The Future of the Digital Economy in Japan”, outlines a number of proposals to make the regulatory environment for crypto more friendly and conducive to growth.©Pexels/DSDDeveloping a roadmapThe Japanese government has been looking at ways to foster innovation in the crypto industry, which has been gaining traction in recent years. With the release of the Web3 white paper, the government is hoping to provide a roadmap for the development of the industry in the country.One of the key proposals in the white paper is the establishment of a regulatory sandbox for crypto startups. The sandbox would provide a safe space for companies to experiment with new ideas and technologies, without the risk of falling foul of regulations. This would help to encourage innovation and entrepreneurship in the industry, and could lead to the creation of new products and services.Another proposal in the white paper is the introduction of a digital asset exchange license. This would allow companies to operate crypto exchanges in Japan, provided they meet certain regulatory requirements. This would help to create a more stable and reliable marketplace for cryptocurrencies in the country, and could attract more investors to the industry.Blockchain R&D hubThe white paper also proposes the establishment of a blockchain research and development hub. This would bring together academics, researchers, and industry experts to collaborate on the development of new blockchain technologies. The hub would help to promote innovation and knowledge sharing, and could lead to breakthroughs in the field.In addition to these proposals, the white paper also calls for the creation of a new government agency to oversee the development of the crypto industry in Japan. The agency would be responsible for implementing and enforcing regulations, as well as providing guidance and support to companies in the industry.The release of the Web3 white paper has been welcomed by the crypto industry in Japan. Many industry insiders see it as a positive step towards creating a more supportive environment for innovation and growth. Some have also praised the government for taking a proactive approach to the development of the industry, and for recognizing its potential to drive economic growth in the country.White paper concernsHowever, there are also some concerns about the proposals outlined in the white paper. Some worry that the regulatory sandbox may not provide enough protection for consumers, and that it could lead to the proliferation of untested and potentially risky products and services. Others have raised concerns about the potential for government interference in the industry, and the impact this could have on innovation and entrepreneurship.Despite these concerns, it is clear that the release of the Web3 white paper marks a significant milestone in the development of the crypto industry in Japan. With its proposals for a regulatory sandbox, digital asset exchange license, blockchain research and development hub, and new government agency, the white paper provides a roadmap for the growth of the industry in the country. It remains to be seen how these proposals will be received and implemented, but they are certainly a step in the right direction for the future of the crypto industry in Japan.

Korea’s Premier Law Firm to Jointly Hold Seminar on Preventing Crypto ExploitsKim & Chang, a leading law firm in South Korea, has announced its collaboration with crypto exchange operator Dunamu to host a seminar on anti-money laundering (AML) and the prevention of crypto exploits. The event will take place at Korea University on Thursday, as reported by Moneytoday.Photo by David McBee on PexelsInauguration of a digital asset forumThe seminar is being organized by the Digital Assets Policy Forum, an organization dedicated to developing the digital asset market and safeguarding investors. The inauguration ceremony of the forum will also be held at the event.Talks by distinguished figuresThe seminar will commence with a keynote speech by Aaron Bice, Senior Subject Matter Expert at Chainalysis, a blockchain data analysis firm based in New York.Following Bice’s address, several distinguished individuals from South Korea will deliver presentations. Ahn Chang-kook, a high-level official from the Financial Intelligence Unit at the Korean Financial Services Commission, will elucidate the challenges and solutions associated with crypto exploits. Oh Jeong-eun, a prosecutor from the Incheon District Prosecutors’ Office, will provide insight into the investigations of unlawful foreign exchanges in banks and their implications. Advisor Ko Cheol-soo of Kim & Chang will shed light on the evolving global landscape of AML regulations in the crypto sector. In addition, Kim Kwang-hoon, a manager at Dunamu, will explore the topic of crypto AML systems.Panel discussionsA representative from Kim & Chang said that the event will gather a diverse group of experts in digital asset regulation, policy, and law from various sectors, including government, academia, and industries. These experts will not only deliver informative presentations but also actively engage in panel discussions during the event.

Remixpoint, Inc., an energy management solutions provider that trades on the Tokyo Stock Exchange (TYO:3825), has announced the raising of $215 million to finance its Bitcoin treasury while the company’s CEO has become the first public company executive in Japan to receive his entire salary in Bitcoin.Photo by Michael Förtsch on Unsplash3,000 BTC targetIn a statement published to X on July 9, the company outlined that it had raised ¥31.5 billion ($215 million). The proceeds will be entirely allocated to Bitcoin acquisition. The company is targeting the accumulation of 3,000 BTC.  As of June 16, the company held 1,051 BTC, valued at around $114 million. At today’s pricing, the funds raised would allow Remixpoint to buy a further 1,977 BTC. However, the firm warned that actual acquisition volume may vary depending upon Bitcoin pricing over a certain period of time, combined with the firm’s share price. Providing its justification for the funds raised, Remixpoint said that the decision reflected its “conviction in Bitcoin’s future,” a view that the company has formed following extensive internal discussion. Remixpoint initiated this treasury strategy in September 2024, compelled to do so due to concerns about the Japanese yen, with a desire to hedge against its depreciation. In addition to Bitcoin, the company has also bought altcoins such as Ether (ETH), Solana (SOL) and Dogecoin (DOGE). Japanese firms buying BitcoinRemixpoint is one of a growing number of Japanese firms to establish crypto-based treasuries. Japanese fashion retailer ANAP Holdings held 200 BTC as of July 8, with plans to acquire over 1,000 BTC by August. Publicly listed marketing business Agile Media Network stated in April that the company would make an initial purchase of ¥10 million worth of Bitcoin on a trial basis in an effort to determine if it's worthwhile to invest in the asset on a broader basis. Earlier this year, Japanese gaming firm Gumi announced plans to build up a Bitcoin treasury worth in the region of ¥1 billion. In recent months, SBC Medical Group, nickel processing firm S Science and textile manufacturer Kitabo have either added Bitcoin to their balance sheets or announced plans to do so. Japan’s standout Bitcoin treasury company is Metaplanet, a former hotel operator. Earlier this week, it emerged that the company aspires to build up a 210,000 BTC treasury. Furthermore, it plans to use its Bitcoin holding to buy cash-producing businesses, with a digital bank being one of its potential acquisition targets. On July 8, Remixpoint announced that it had taken the decision to pay the entire salary of its recently-appointed CEO, Takashi Tashiro, in Bitcoin. Tashiro will become the first Japanese CEO of a publicly-listed company to receive his salary in Bitcoin. Remixpoint said that it had taken this decision as part of a shareholder-perspective management outlook. In a tongue-in-cheek comment on X, market analyst Caleb Franzen said that "Now that the Remixpoint CEO is taking their salary in Bitcoin, I think Satya Nadella [CEO of Microsoft] will do the same any day now!" The emergence of crypto treasury firms has faced criticism. However, Elliot Chun, a partner at Architect Partners, asserted back in March that by 2030, a quarter of S&P 500 firms will have invested in Bitcoin.