cabinet

The Japanese government has passed an amendment to the Financial Instruments and Exchange Act at a cabinet meeting. This amendment regulates cryptocurrency assets (virtual currencies) as financial instruments for the first time and prohibits insider trading and other activities based on undisclosed information. At the same time, it requires cryptocurrency issuers to disclose information annually to improve the healthy market environment. If this bill is passed in the current Diet session, it is expected to be implemented as early as the 2027 fiscal year.Previously, the Financial Services Agency of Japan primarily regulated cryptocurrencies based on their positioning as "means of payment" under the Funds Settlement Act. However, in recent years, the use of cryptocurrencies as investment tools has been increasing, leading to their inclusion in the regulatory framework of the Financial Instruments and Exchange Act. Additionally, the name of registered institutions will change from "cryptocurrency asset exchange operators" to "cryptocurrency asset trading operators."At the same time, the penalties will also be strengthened: for unregistered institutions engaged in sales, the maximum prison sentence will increase from 3 years to 10 years, and the fines will rise from the current maximum of 3 million yen to a maximum of 10 million yen. By increasing penalties, the stance on protecting investors will be further reinforced.

According to Politico, Trump expressed disappointment and dissatisfaction with Secretary of Commerce Ross and Secretary of Labor Scalia, and is considering further adjustments to the cabinet. A government official stated, "He is very angry and will make personnel changes."Previously, Attorney General Barr and Secretary of Homeland Security Wolf were dismissed one after another. U.S. officials say the fate of Scalia is under discussion, and Ross's situation is also precarious; no final decision has been made regarding the two, but insiders revealed that Trump had previously considered firing them but did not follow through.If a larger-scale adjustment occurs, it would be a significant reorganization of the U.S. federal government. The adjustments mainly target cabinet members who are "underperforming or attracting too much negative attention." Dismissing Secretary of Commerce Ross could help indicate that Trump is "making changes" on economic issues. However, a White House spokesperson stated that both are "doing an excellent job and continue to have the president's full support."

The Japanese government has launched its own version of the "Department of Government Efficiency" (DOGE), which has set a plan in its first meeting aimed at identifying and eliminating inefficient tax measures and subsidies.After the first DOGE meeting, Finance Minister Shunichi Suzuki told reporters on Tuesday: "By eliminating waste through the efforts of everyone, including the public, and directing funds to areas that truly need them, we will stand in stark contrast to previous administrations. This is crucial for maintaining trust in the nation, in our currency, and in the markets."Shunichi Suzuki also stated that she believes there is no divergence between the government and the Bank of Japan in their assessment of the economy, following comments from Bank of Japan Governor Kazuo Ueda expressing confidence in the economic outlook and hinting at possible interest rate hikes. Meanwhile, Japan's Economic Growth Strategy Minister Minoru Kiuchi reiterated these comments verbatim, indicating that this response was coordinated within the Cabinet and aimed at conveying a consistent signal of support. (Jinshi)

ChainCatcher news, it is reported that Kenya's Cabinet Secretary for Information and Communication Technology, William Kabogo, has officially launched the national digital token KenyaNDT (KDT). The token is deployed on the Solana blockchain, becoming the first national-level digital asset in Sub-Saharan Africa.Kabogo stated that Kenya is formulating a national virtual asset policy and a draft bill for virtual asset service providers (VASP) to build a more regulated digital asset regulatory framework. He also revealed that the monthly digital asset trading volume for Kenyan citizens has exceeded $500 million, reflecting the high level of public participation in this field.

ChainCatcher news, the Cabinet Secretary of the Ministry of Information, Communication and Digital Economy (MICDE) of Kenya, Hon. William Kabogo, stated on the X platform that Kenya will continue to vigorously promote the development of digital assets.He mentioned that Kenya's approach remains cautious, supporting innovation and financial inclusion while prioritizing public safety and sound regulation. The policies being formulated aim to balance opportunities with strong regulation.

ChainCatcher news, according to Bitcoin Magazine, the Thai cabinet has approved the implementation of a five-year personal income tax exemption policy for cryptocurrency sales profits.

ChainCatcher news, according to CNN reports, after Israel officially announced strikes against Iran, President Trump has convened a cabinet-level meeting.

ChainCatcher news, according to Fox News, Elon Musk recently attended Trump's third cabinet meeting during his second term wearing a red hat that said "Trump was right about everything."During the meeting, Trump praised Musk as "a patriot who is working hard to expose the fraud in our government system, yet has never asked me for anything. He is a genius, unmatched by anyone else in the world. I pray for him every day. I find that he has been praising God more often lately. He is a strong man, broad-minded, very bold in his thinking, and has a deep love for humanity."

ChainCatcher news reports that according to Fortune magazine, after reviewing the financial disclosures of President Trump's cabinet members in January, it was found that among the 22 listed Bitcoin wallets, six members of Trump's cabinet indirectly held Bitcoin through other financial instruments or invested in cryptocurrencies, with a total value of several million dollars.The six members who invested in Bitcoin and their holdings include:Secretary of Health and Human Services Robert Kennedy Jr. disclosed a Bitcoin Fidelity cryptocurrency account valued between $1 million and $5 million.Office of Management and Budget Director Russell Vought disclosed Bitcoin in a Coinbase wallet valued between $1,001 and $15,000, stating he would divest.Director of National Intelligence Tulsi Gabbard reported that she owns a Bitwise Bitcoin ETF trust fund valued between $15,001 and $50,000, as well as Bitcoin valued between $15,001 and $50,000, stating she would divest.Secretary of Defense Pete Hegseth disclosed his holdings of Bitcoin valued between $15,001 and $50,000.Secretary of the Treasury Scott Bessent's financial disclosure shows he holds an iShares Bitcoin Trust ETF valued between $250,000 and $500,000, and he will divest no later than 90 days after confirmation.Secretary of Transportation Sean Duffy disclosed Bitcoin valued between $250,000 and $500,000, Bitcoin held in a Gemini wallet valued between $250,000 and $500,000, and the Fidelity Wise Origin Bitcoin Fund valued between $50,000 and $100,000.

ChainCatcher news, the Japanese Cabinet has approved a proposal to reform laws related to cryptocurrency brokerage and stablecoins. According to the announcement from the Financial Services Agency (FSA) of Japan, the government has approved a Cabinet resolution to amend the Payment Services Act.The bill will allow cryptocurrency companies to operate as "intermediary businesses." This means that brokers will no longer need to apply for the same type of licenses as cryptocurrency trading platforms and cryptocurrency wallet operators. The bill also provides more flexibility for stablecoin issuers regarding the types of assets that back their tokens.In the history of the Japanese Diet, no changes to cryptocurrency-related laws have ever been rejected after receiving Cabinet approval. Similarly, the Cabinet has never rejected any legal change proposals put forward by the FSA concerning Japan's cryptocurrency regulatory matters. The FSA has a certain degree of "full authority" in Japan's cryptocurrency regulatory affairs.Previous news, the Japanese Cabinet approved a new proposal to allow VC companies to directly invest in cryptocurrency and Web3 companies.

ChainCatcher news, U.S. President Trump stated that there is no conflict between Elon Musk and the Cabinet.

ChainCatcher News, former President Donald Trump stated on March 6 local time that he has instructed cabinet ministers and leadership to work with the Department of Government Efficiency on cost-cutting and staffing, in order to "very accurately determine who will stay or leave." Tesla CEO Elon Musk currently leads the Department of Government Efficiency.Trump also added, "It is very important to reduce the number of personnel to the appropriate level, but it is also important to retain the best and most efficient people."

ChainCatcher news, on February 26 local time, in Washington D.C., President Trump hosted his first cabinet meeting, with Musk in attendance, sitting next to Secretary of State Rubio. President Trump stated on Wednesday that some of his cabinet members "slightly disagree" with Musk's approach, amid media reports that Musk's directives to federal staff have begun to cause dissatisfaction among cabinet ministers. "Is anyone unhappy with Elon? If so, we'll get him out of here." Trump said, which elicited varying degrees of applause from the cabinet members seated around the table. He continued, "They have a lot of respect for Elon and for what he is doing. And while some people slightly disagree with his approach, I want to tell you that, for the most part, I think everyone is not only satisfied but also excited."

ChainCatcher news, Trump stated that he will instruct the cabinet to combat record inflation.Trump also mentioned that he will announce a national energy emergency today, as the inflation crisis is caused by massive overspending and rising energy prices.

ChainCatcher news, according to Jinshi reports, the elected President Trump announced the latest nominations for three positions in the new government, including former Fox senior news writer Tammy Bruce as the State Department spokesperson. Since winning the U.S. presidential election in November 2024, Trump has gradually announced his cabinet nominations, and the list of key personnel has been released.The next step is for this long list to await Senate confirmation. The U.S. Constitution stipulates that the President's appointments of major government officials, ambassadors, and other senior officials require Senate approval to be finalized. As Trump prepares to begin his second presidential term, over 1,300 official appointments will need Senate approval.

ChainCatcher news, according to the Chosun Ilbo, all cabinet ministers in South Korea have collectively resigned.According to a passport official, all members of the National Security Council submitted their resignations to Prime Minister Han Duck-soo earlier that day during a meeting with him.It is reported that Han Duck-soo, the leadership of the ruling party, and President Yoon Suk-yeol are scheduled to meet at 2 PM at the Prime Minister's Office in Jongno District, Seoul, to announce and lift the state of emergency.Earlier that day, Chief of Staff to the President Jeong Jin-seok, Policy Chief Song Tae-yeon, National Security Bureau Chief Shin Won-sik, and all senior secretaries submitted their resignations to Yoon Suk-yeol.

ChainCatcher news, Matrixport released a report stating that the elected President Trump has nominated three key cabinet minister candidates, who will respectively head the U.S. Department of the Treasury, the Department of Commerce, and the Securities and Exchange Commission (SEC). These candidates are generally considered to have a friendly attitude towards cryptocurrencies and are aware of the inevitability of digital assets in the modern financial system. Their nominations are expected to further integrate cryptocurrencies into the U.S. economy.Ironically, the U.S. may become a beneficiary of MiCA. During Trump's second term, his pro-cryptocurrency ministerial team is expected to focus on integrating cryptocurrencies into the U.S. economy to drive technological innovation and economic growth. The domestic debate in the U.S. has shifted from merely establishing a regulatory framework to fully embracing cryptocurrencies as a driver for creating economic opportunities and advancing technological progress. The possibility of the U.S. establishing a strategic Bitcoin reserve is increasing. However, the U.S. may not actively purchase Bitcoin but rather indefinitely hold the Bitcoin it already possesses.If the aforementioned nominations come to fruition, Bitcoin as digital gold may evolve into a revival of decentralized finance (DeFi), and the digitization of the U.S. financial economy could make cryptocurrency applications the biggest winner of this election. This shift may also force other countries and regional governments to accept cryptocurrencies, accelerating their global adoption. In the scenario of a revival of decentralized finance (DeFi), Ethereum may catch up.