Japan’s Liberal Democracy Party takes a proactive approach to crypto regulations as the country softens its stance toward digital assets.
Japan’s Liberal Democracy Party (LDP), the ruling party in Japanese politics, is moving ahead with comprehensive regulatory reform on cryptocurrencies that would slash the capital gains tax on crypto to 20% and categorize digital assets as a distinct asset class.
According to LDP lawmaker Akira Shiizaki (Akihisa), cryptocurrencies will be categorized as a new asset class, separate from securities under the Financial Instruments and Exchange Act.
The LDP proposal also requested that cryptocurrency derivatives trading receive the same tax treatment as spot investments and moved to defer taxes on crypto-to-crypto swaps. Instead, the LDP proposed that taxes from crypto swaps be calculated all at once and charged only when the crypto is exchanged for fiat currency.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments