By Kapil Rajyaguru
Metaplanet Now Holds 2,100 Bitcoin, Purchases 68 More BTC.
Metaplanet has now accumulated 2,100 bitcoin (BTC), now holding 0.01% of the total BTC supply that will ever be mined, which is 21 million BTC. Metaplanet purchased 68.59 BTC for $6.6 million at an average purchase price of $96,335 per bitcoin.
According to Dylan Le Clair, Metaplanet has raised $20 million in equity capital in the first two trading days of its “21 million plan.”. Metaplanet also announced on Feb. 18 that they will execute a 10-1 stock split on April 1. This comes just eight months after a 1-for-10 reverse split.
Japan’s FSA Approves Reforms To Ease Stablecoin And Brokerage Regulations.
The Japanese Financial Services Agency greenlit a report detailing reforms that would ease regulations for stablecoins and crypto brokerage.
According to local media CoinPost, the FSA has approved a report from a working group recommending policy changes that, if implemented, would ease crypto regulations related to stablecoins and brokerage in Japan.
The proposed amendments impact two main payment-related laws in the country, the Trust Business Act and the Payment Services Act, as cryptocurrency is still classified as digital payment tools under the local regulations.
One of the policy changes includes a reform that would allow stablecoins to be backed by short-term government bonds and fixed-term deposits in addition to demand deposits. The working group also recommended an upper limit of 50% on the bonds and deposits that can be used as collateral for stablecoins.
Montana Moves Closer to Bitcoin Reserves as House Panel Passes Crypto Bill.
Montana has taken a significant step toward integrating Bitcoin into its financial reserves after the House Business and Labor Committee approved House Bill No. 429 in a 12-8 vote on Feb. 19. The vote followed a clear partisan divide, with all Republicans in favor and Democrats opposing the measure.
The bill, if passed into law, would establish a special revenue account allowing the state to invest in precious metals, stablecoins, and digital assets with a market cap averaging over $750 billion in the past year. Bitcoin is currently the only cryptocurrency that meets this threshold.
Kraken Eyes India Relaunch Following 2024 Ban.
Kraken exchange is getting ready to rejoin the Indian market after being banned in 2024 for violating anti-money laundering laws.
Nine offshore exchanges, including Kraken, were blacklisted by India’s Financial Intelligence Unit last year for breaking the Prevention of Money Laundering Act. To operate legally, exchanges must register with the FIU, implement Know-Your-Customer compliance, and report suspicious transactions.
Besides Kraken, Coinbase is also considering relaunching into the Indian market. The FIU has previously granted clearance to Binance and KuCoin, paving the way for Kraken’s possible approval.
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