Token issuers in Japan are exempt from paying 30% tax on unrealized profits from issued and held coins. This happened after clarification of the relevant law by the National Tax Agency.
The proposal was received in August last year. Four months later, the relevant committee of the ruling Liberal Democratic Party approved the easing of the tax burden for token issuers. Subsequently, a similar decision was made by Parliament.
The initiative aims to stimulate the growth of the financial and technology sectors. Current regulations have forced entrepreneurs to create start-ups in other jurisdictions.
Recall that in January 2023, the media reported on the readiness of the country’s authorities to soften the regulation of stablecoins no later than the end of June.
Recently it became known about the intention of the Japan Association of Virtual Currency Exchanges to achieve from FSA increasing the maximum leverage from 1:2 to at least 1:10.
From June 1, the so-called “travel rule” (Travel Rule) began to operate in the country from FATFinvolving the monitoring of crypto transactions in order to AML.
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!
.