NFT Game Slime World’s Creator Join Forces with Blockchain Investor Assemblock

India’s WazirX Partners with TaxNodes to Simplify TaxesIndia’s largest cryptocurrency exchange by trading volume, WazirX, has integrated with TaxNodes to enable platform users to calculate and file their crypto-taxes with greater ease.TaxNodes is a platform that provides users with the ability to calculate taxes on their cryptocurrency transactions. The start-up company has built a product for the retail crypto investor and trader that’s accessible on a global basis.Photo by Julian Yu on UnsplashEase of calculationThrough the partnership, TaxNodes will enable WazirXs expansive user base to calculate and file taxes on their crypto trades and crypto investments accurately. Furthermore, it will extend its service to provide updates on any developments in Indian taxation relative to the digital assets sector.Avinash Shekhar, Founder and CEO of TaxNodes, commented on the partnership: “We are looking forward to embarking on a journey with WazirX. We believe that our solutions will help WazirX’s customer base get clarity on the taxes levied on their investment. We think that our users will be able to leverage our plans to not only compute but also file their taxes, thereby, enabling us to simplify the taxation journey of crypto investors in the country.”From its perspective, Rajagopal Menon, Vice President at WazirX, said that the company has always prioritized compliance with regulations in the country to set an example of fair practice in the virtual digital asset industry. The partnership between WazirX and TaxNodes will be beneficial in enabling an ecosystem of regulatory abidance and mainstream adoption of crypto without the challenges of tax miscalculation or default.”High taxesIndia has chopped and changed its position on digital assets many times, and its tax treatment of cryptocurrencies has also undergone changes in tandem with that. Currently, Indian investors who trade digital assets, inclusive of NFTs, are under the obligation to declare their income if the assets are held as investments.Income tax return (ITR) forms for the 2022–2023 tax year have been amended to include a section dedicated to digital assets. A section called “Schedule — Virtual Digital Assets (VDA)” is now included. Income from the sale of virtual assets is currently taxed in India at a rate of 30%. One inequitable feature of the Indian crypto tax treatment is the fact that losses incurred from digital assets cannot be offset against other income.Additional taxes are to be applied in the form of tax deducted at source (TDS) of 1%, applicable on all sell transactions of digital assets and NFTs. That measure was first applied as of July 1, 2022. The world’s largest democracy has taken a very repressive stance in taxing digital assets, and added to that, non-compliance in the case of TDS can be sanctioned by way of a fine or jail time.With those high stakes, it’s appropriate that service providers like TaxNodes are collaborating with Indian crypto exchanges like WazirX. Crypto market participants can’t afford to miscalculate their taxes given the sanctions that could potentially be applied.

Katsunobu Katō, a Liberal Democratic Party politician and Japan's Minister of Finance under Prime Minister Shigeru Ishiba's government since October 2024, has said that cryptocurrency assets can play a role in a diversified investment portfolio. Katō made the remarks while speaking at an event that was held in Tokyo related to the subject of crypto assets on Aug. 25, according to Bloomberg. Katō stated:''Crypto assets run the risk of high volatility, but if an appropriate investment environment is created, they can become targets for diversified investment.''Photo by JJ Ying on UnsplashGrowing crypto user baseKatō acknowledged that there is a growing user base in Japan related to digital assets. With that, he intends to work towards the provision of a healthy trading environment in Japan for stakeholders within the digital assets sector. The finance minister added that he has been trying to balance regulation with a need to leave the digital assets sector with sufficient freedom so as to enable the development of innovation. Crypto tax reformIt emerged over the weekend that the Japanese financial regulator, the Financial Services Agency (FSA), intends to include tax reform measures in respect of the crypto sector in 2026 tax revision proposals that it will bring to the Japanese government. It’s expected that the proposals, scheduled for submission by the end of this month, will call for a separate taxation category for digital assets and the implementation of a flat 20% tax rate. Under Japan’s existing tax regimen, crypto trading gains must be reported under the categorization of “miscellaneous income,” with those gains subject to tax rates of up to 55%. The move would bring taxation on crypto trading gains in line with the tax treatment that’s currently in place for equity trading gains. Equities have been given their own category and are taxed at a flat rate of 20%. Reclassifying cryptocurrenciesAdditionally, the FSA plans to propose legislation next year that would result in the reclassification of cryptocurrencies, removing them from their current treatment as a means of payment under the Payment Services Act. The regulator wants crypto to come under the Financial Instruments and Exchange Act, reclassifying it as a financial product. Katō has outlined his party’s commitment to the consideration of reviewing crypto asset taxation. That item was incorporated into his government’s tax reform plan for 2025, while the Japanese cabinet approved a proposal to amend the Payment Services Act back in March. As part of plans to have digital assets categorized as financial products, the FSA is also understood to be interested in broadening the scope of insider trading restrictions. Kato’s remarks are being interpreted as positive for the crypto sector. According to International Monetary Fund (IMF) data, Japan is the world’s fifth-largest economy, with a gross domestic product (GDP) exceeding $4.1 trillion.Source: World Economic Outlook (April 2025)In further positive news for the sector in Japan, it was reported on Aug. 18 that the FSA is likely to approve the issuance of JPYC, a Japanese yen-backed stablecoin, over the course of the coming months.

Crypto.com, the global crypto exchange platform headquartered in Singapore, has recently added an “AED Fiat Wallet,” allowing its users based in the United Arab Emirates (UAE) to deposit and withdraw UAE dirhams to and from their Crypto.com accounts. In a statement published on its website on Dec. 11, the firm outlined details of the added feature. So as to be able to access the AED Fiat Wallet, UAE residents will need to be registered on the platform with a UAE phone number. Once users configure platform settings to reflect the AED as their default currency, the platform displays the relevant deposit information to enable users to deposit the currency to their accounts. The minimum deposit has been set at 10 AED per transaction with a maximum of four million AED per day.Photo by Katerina Kerdi on UnsplashFacilitated by Standard CharteredCrypto.com claimed on X that the new feature could be set up easily, enabling fast and simple transfers. Additionally, the company is not charging users a deposit fee for AED deposits. Tarik Erk, Crypto.com’s General Manager for Middle East & Africa, explained that a collaboration with British multinational bank Standard Chartered had enabled the offering. Erk stated: “This new wallet launch is made possible through our global banking partnership with Standard Chartered which we announced in August, alongside the ongoing and valued support of VARA [Virtual Assets Regulatory Authority], which enables us to continue our expansion across the UAE. We’re extremely focused on offering our customers a seamless world-class experience and, at its very core, that includes ease of deposits and withdrawals – enabling our customers to interact with our products and services with as much flexibility as possible.” Crypto.com launched its service in the UAE in August, and at the time, it recognized the significance of its partnership with Standard Chartered. In September Standard Chartered announced the launch of crypto custody services in the UAE in collaboration with Brevan Howard Digital. The service was licensed by the Dubai Financial Services Authority (DFSA).  In November of last year, Crypto.com was awarded a license by VARA to provide virtual asset services. Last week, it emerged that the company had acquired Orion Principals Limited, an Abu Dhabi-based securities firm. The brokerage firm is licensed by the local regulator within the Abu Dhabi Global Market, an economic free zone and financial center. Crypto.com said that the acquisition will lead to the company rolling out new services to eligible platform users, including securities, options, futures and contracts for difference. Deutsche Bank partnershipHaving forged a partnership with TradFi banking giant Standard Chartered in the Middle East, Crypto.com announced a similar partnership with another TradFi giant, Deutsche Bank, last week. The collaboration will see Deutsche Bank provide the company with banking support and corporate banking services within its home base of Singapore, as well as in Australia and Hong Kong. Back in June, Deutsche Bank partnered with another crypto exchange business, Bitpanda, to assist it in offering real-time inbound and outbound payments on its platform.