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In its newly released tax reform outline, Japan's Financial Services Agency (FSA) plans to change the status of crypto assets from payment instruments to financial assets. According to the outline, crypto asset transactions will receive the same tax incentives as financial products such as listed stocks, provided that appropriate investor protection mechanisms, disclosure obligations, and compliance requirements are established.
At the plenary meeting of the tax system committee and tax system research committee of the Liberal Democratic Party and Komeito Party of Japan, the outline of tax reform for fiscal year 2025 (Reiwa 7 years) was finalized. Takuya Hirai, the first digital minister of the Liberal Democratic Party, visited the Financial Services Agency and presented to the Financial Services Agency...
Japan's Financial Services Agency has published requirements for tax reform for fiscal year 2025, including regulations on cryptoassets (virtual currencies). The "Asset Return Multiplication Plan and the Realization of Asset Management Countries" section of the reform plan mentions the tax treatment of virtual currency transactions for the first time, discussing whether virtual currencies should be treated as financial assets. The request for tax reform was made by various government agencies an...
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