Japan's Largest Pension Fund Considers Bitcoin; SEC Faces Sanctions, MetaMask Streamlines Tax Reporting
Summary:
Japan's Government Pension Investment Fund is exploring the possibility of adding Bitcoin to its investment portfolio for diversification. A US court has imposed sanctions on the Securities and Exchange Commission over misconduct in the Debt Box case. Meanwhile, digital wallet platform MetaMask partners with CoinLedger to streamline tax reporting for its 30 million active users.
Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund, is contemplating widening its investment range to include Bitcoin. In other news, there has been a 'gross abuse of power' by the USA's Securities and Exchange Commission (SEC) in the Debt Box case, resulting in sanctions imposed by a US district court judge. In parallel, MetaMask is teaming up with CoinLedger to simplify tax reporting for its active base of 30 million users.
Japan's GPIF, which is regulated by the Japanese government and primarily invests in core infrastructure funds, is contemplating the incorporation of Bitcoin into its investment pool as a possible diversification strategy. The GPIF has asked for data on an array of possible investment diversification tools, including those deemed illiquid and traditionally unavailable to the company, such as cryptocurrencies like Bitcoin and precious commodities such as gold. The Fund, comprising of 225 trillion Japanese yen ($1.54 trillion) in managed assets as of December 2023 end, is the largest pension fund globally.
The US SEC has faced punishment for its 'gross misuse of power' in the Debt Box case, with a US district court imposing sanctions. The lawsuit against Debt Box, initiated by the SEC in bad faith, was denied dismissal by Judge Robert J. Shelby, who called out the SEC for misleading the court concerning the evidence it had procured to secure a temporary restraining order (TRO) and asset freeze of Debt Box in August of last year.
MetaMask, in partnership with CoinLedger, aims to simplify tax reporting for its users. Crypto tax reporting could soon be more straightforward for MetaMask users, owing to the self-custody wallet's new partnership with CoinLedger, a crypto tax reporting software platform. CoinLedger now allows MetaMask users to link their accounts and upload their transaction history to the tax reporting software, facilitating automatic generation of tax forms.
Crypto tax remains a controversial topic in the US, with potential considerations for a 30% excise tax on cryptocurrency mining being evaluated by the Biden administration.
Published At
3/19/2024 4:02:43 PM
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