Why are crypto assets recovering? Current status and future of Web3 in Japan[10 carefully selected books you want to read on Sunday]| coindesk JAPAN

Having visited Tokyo recently, it is difficult to express how different Japan is from the rest of the world. He didn’t seem particularly shaken by the FTX bankruptcy or the string of cryptocurrency losses that preceded it — picking 10 books to read on Sunday from columns and interviews published this week.

Crypto assets, why are they recovering?

Major crypto assets such as Bitcoin (BTC) and Ethereum (ETH) are off to a very auspicious start to 2023 so far. Bitcoin is up about 36% year-to-date, while Ethereum is up about 30%.

There are more and more reasons to believe that the cryptocurrency market has “bottomed out.” Macroeconomic data also points to a much brighter year than 2022’s spate of frauds and catastrophes. …read more

Current status and future of Web3 in Japan ──How did the executive director of CoinDesk see it?

In December last year, Emily Parker, Executive Director of CoinDesk in the United States, visited Japan and confirmed with her own eyes the current state of the cryptocurrency industry in Japan, as well as the Web3 strategy and its initiatives. What is the current status and future of Web3 in Japan as per Mr. Parker?

“While many countries stand in the way of headwinds and cower, there is a role that can be played only by our country, which has witnessed the hardships of the cryptocurrency industry many times.”…Read more

Big Tech’s downfall: Is it the beginning of the end of Web2?

After 20 years of ruling and reshaping our lives, “Big Tech” is finally starting to fade.

In the first three weeks of 2023 alone, more than 46,000 people at U.S. tech companies have lost their jobs, according to venture database Crunchbase. By the way, the number of layoffs in 2022 is 107,000. …read more

What you can do to prevent “Crypto Winter” from turning into an ice age

Americans and lawmakers have taken a crash course in cryptocurrencies over the past few months. Unless something changes, I may not attend next semester. While the current environment threatens the very existence of crypto assets, it also has considerable implications for traditional market participants and the broader economic future.

Before the collapse of the cryptocurrency exchange FTX, most Americans were vaguely familiar with cryptocurrencies. …read more

Global “Grassroots Projects” Lead Crypto Recovery

During a House Financial Services Committee hearing on FTX last month, Democratic Rep. Jesus Garcia said of crypto, “The whole industry sees itself as above the law. ‘, and continued with more offensive remarks.

Crypto firms “make their money off of hype and hoaxes,” argued Garcia, adding, “When the hoaxes go away, companies go bankrupt, leaving ordinary investors, especially black and Latino-biased latecomers. of low-income earners will suffer,” he continued. …read more

Can Banks Issue Stablecoins?

Stablecoin regulation has become a particularly controversial topic for crypto assets. Reports from US regulators and the Biden administration have warned that stablecoins could threaten financial stability. But many are skeptical of these claims.

There have been proposals to regulate the transparency, issuance and licensing of stablecoins, but so far no legislation has been passed. …read more

Web3 loyalty program is a ‘Trojan horse’ for good policies

It is said in the legal world that “bad facts make bad laws”. Crypto assets need good facts right now. For cryptocurrencies to gain empathy among policy makers, they should not emphasize facts and stories that threaten governments and wealthy people (“No fiat currency!” ).

Instead, it should emphasize simple, valuable, consumer-oriented, everyday stories. It should be technology that benefits everyone and strengthens communities without violating individual rights. …read more

What is the responsibility of VCs who invested in FTX?

The US Securities and Exchange Commission (SEC) has filed charges against three former FTX executives, including Sam Bankman-Freed, but that doesn’t mean the SEC’s investigation is over. Reuters recently reported that the SEC has asked several financial firms that have made significant investments in FTX to provide information about the due diligence process they undertook before investing.

Venture capital (VC) investment in and of itself does not indicate fraud, but the sheer volume of VC assets invested in FTX raises multiple questions. …read more

Will 2023 be the year the DAO follows the law?

Many say 2023 will be the year of the DAO. The reason for this is the explosive growth of DAOs (Decentralized Autonomous Organizations) and major advances in software that make it even easier for anyone to start a DAO. It seems likely that 2023 will be the year of the DAO, but will it also be the year the DAO follows the law?

“Breaking the law” may be extreme, but if you are not registered as a legitimate organization, you are not recognized by the government. …read more

Crypto Regulation in 5 Simple Steps: BitGo CEO

The FTX bankruptcy ensures that cryptocurrency regulation will finally be on the legislative agenda in the United States in 2023. Six bills have been proposed for 2022. Some were wide-ranging, while others focused on specific issues such as compliance and investor protection.

Clearly there is confusion. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are vying for control. …read more

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