Japanese Crypto Tax Rules. Japan's Finance Minister thinks that the public doubts if he will make changes in the taxation of cryptocurrency transactions, Cointelegraph Japan reported.
During the current meeting of the Upper House Budget Committee, Senator Fujimaki asked the Japanese Deputy Prime Minister Taro Aso whether crypto transactions should be taxed through a "separate tax settlement," rather than their current classification as "other income." Aso said that his prospects were " "By the public and expressed concern over the public reaction due to" tax justice. "
The current tax rate for maximum crypto transactions is 55 percent, and Aso plans to change to 20 percent similar to stock or forex trading.
Aso noted that the position of cryptocurrency in the international financial sector is uncertain. He also talked about the importance of developing blockchain technology, but added that he supported the controversial technology, given it underlies the cryptocurrency.
The Japan Financial Services Agency (FSA) issued a business improvement notice for the crypto exchange market as part of its ongoing regulatory oversight following a $ 530 million theft in the Japanese crypto exchange market, Coincheck in January.
On Monday (25/6) yesterday, two vice presidents of the Japanese foreign exchange crypto exchange market resigned after the two exchanges each received notice of increased FSA business last week@BPI
