Stablecoins in Japan and China, India Considers Crypto Tax Adjustments: Asia Express

Japan and China are adopting differing approaches to stablecoins, while India is contemplating revisions to its cryptocurrency tax framework. Japan is working toward establishing a clear regulatory structure for yen-backed stablecoins, with the goal of fostering financial innovation while safeguarding consumer interests. Conversely, China maintains its cautious stance on cryptocurrencies, including stablecoins, concentrating on the advancement of its central bank digital currency (CBDC). In India, the existing 30% tax on cryptocurrency income is under review, and the government is evaluating potential adjustments to encourage market participation. These developments highlight the evolving regulatory landscape for cryptocurrencies across Asia, as countries seek to balance innovation with potential risks.