Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why!
Japan’s crypto lobby groups are insisting on lowering the current tax rates as it might be hindering the industry growth. Lowering the tax rates would eventually help to retain talent in the crypto industry. Specifically two of the top crypto lobbying groups, the Japan Cryptoasset Business Association and the Japan Virtual and Crypto assets Exchange […]
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According to a recent report by CoinPost, MUTB, a subsidiary of Mitsubishi UFJ Financial Group, one of Japan’s largest financial institutions, in partnership with Binance Japan and Progmat, has announced the start of joint consideration for the development of a new stablecoin. Leveraging the Progmat Coin platform, compliant with Japanese regulations, the collaborative effort aims […]
Danny Talwar from crypto tax platform Koinly said Japan’s regulatory environment makes it difficult for businesses and individual investors to hold digital assets in Japan. Japan’s leading crypto lobby groups plan to submit a proposal to Japan’s financial regulatory body to address its high crypto taxes, which experts warn make Japan less competitive as a crypto hub. According to an internal memo seen by Bloomberg, the proposal will be submitted to Japan’s Financial Services Agency (FSA) this week, asking them to put an end to taxing unrealized gains on crypto holdings “if the firm owns....
Four institutions with significant stakes in the success of Bitcoin launched a trade group to lobby policymakers for favorable regulation.