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The review which will occur over the coming months could also pave the way for dedicated exchange traded funds.

Liberal Democratic Party leader and Prime Minister Fumio Kishida once called Web3 a “new form of capitalism,” but he faces a party leadership election in September.

Metaplanet bought around 108.8 BTC at an average price of just under 9.2 million yen per coin.

The boss of Japan's Financial Services Agency (FSA) has said “cautious consideration” needs to be given to the decision of approving crypto-related exchange-traded funds.

Coincheck said the timing is subject to approval by Thunder Bridger IV's stockholders, the SEC and Nasdaq.

Measures have been taken to prevent further unauthorized outflows, the exchange said.

"We would like to grasp the current situation in areas other than decentralized autonomous organizations and identify new important points for policy," Congressman Hideto Kawasaki said.

A change in the regime could result in lower taxes for some crypto investors.

The firm will purchase over $6.2 million worth of bitcoin using proceeds from an upcoming bond issuance, adding to its BTC coffers.

Igbara perpetrated multiple fraud schemes and scammed investors of at least $8 million.