# JapanTokenizesGovernmentBonds

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Three Japanese megabanks MUFG Mizuho and Sumitomo Mitsui along with BlackRock Japan have launched a JGB tokenization study. The project aims to enable 24/7 on-chain trading and same-day settlement for the JGB repo market by the end of 2026. The JGB repo market is about 1.6 trillion US dollars. Moving it on-chain would compress settlement cycles from T plus 1 to T plus 0. This is the first major economy to push sovereign debt tokenization at institutional scale and could be a key RWA bellwether.

Countdown to Korea's Crypto Taxation: Asia's Policy Landscape Faces a Turning Point
The countdown to Korea's crypto taxation has begun. This country, once known for "Kimchi Premium" and nationwide crypto speculation, is now attempting to impose restrictions on the industry through tax policies. From the policymakers' perspective, taxing crypto gains is inevitable—when the market size becomes large enough, the government cannot ignore this tax base forever. However, the approach and intensity of taxation will directly determine the future of Korea's crypto ecosystem. If the tax rate is too high
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