News Explorer — Japan's Regulator Reconsiders How It Taxes Crypto

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Sep 4, 2:12 pm

Coindesk

Japan's Regulator Reconsiders How It Taxes Crypto

Japan's Financial Services Agency is considering whether crypto holdings should be taxed as financial assets rather than as income. This potential change could result in higher-earning crypto holders paying a lower tax rate. Currently, crypto profits are taxed as income, with rates as high as 45%. The country has been reevaluating its treatment of crypto over the past two years after heavy taxes led to a crypto company exodus.

Japan's Financial Services Agency is considering whether crypto holdings should be taxed as financial assets rather than as income. This potential change could result in higher-earning crypto holders paying a lower tax rate. Currently, crypto profits are taxed as income, with rates as high as 45%. The country has been reevaluating its treatment of crypto over the past two years after heavy taxes led to a crypto company exodus.

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