Release: 2024/11/14 01:04 Reading: 210
Binance Announces Zero-Fee Trading for XRP, Dogecoin, and Cardano in Japan
Cover image courtesy of U.Today
Binance has introduced a new promotion offering zero-fee spot trading for XRP/JPY, Dogecoin/JPY (DOGE/JPY), and Cardano/JPY (ADA/JPY) trading pairs. This promotion is exclusive to users on Binance Japan's platform and will run from November 15 to November 27, 2024.
This incentive aims to stimulate trading activity within the Japanese cryptocurrency market, leveraging the strong presence of the Dogecoin, XRP, and Cardano communities. Moreover, zero-fee trading for these cryptocurrencies can enhance their ranking, adoption, and overall market presence.
Crypto Regulation in Japan
This promotion coincides with Japan's ongoing efforts to adapt its digital asset regulations. The Financial Services Agency (FSA) intends to revise the regulatory framework, introducing proposals to reduce taxes on cryptocurrency gains and facilitate the establishment of domestic funds dedicated to digital asset investment.
The proposed revisions could potentially reduce cryptocurrency gains tax from the current maximum of 55% to 20%. This would align crypto taxation with that of stocks and other assets in Japan.
Additionally, the removal of the ban on exchange-traded funds (ETFs) containing cryptocurrency is being considered. This could attract significant institutional investment, particularly if the ban on Bitcoin ETFs is lifted.
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