Japan’s Crypto Tax Revolution: No More Capital Gains Tax On Unrealized Gains

Japan’s National Tax Agency stated that cryptocurrency issuers in the country will not be required to pay capital gains taxes on unrealized gains. This follows the approval of a proposal last December by the tax committee of the ruling Liberal Democratic Party (LDP) to exempt crypto startups from issuing their own tokens from corporate taxes on unrealized gains. The announcement made on June 20, is part of Japan’s ongoing efforts to review its tax treatment of cryptocurrencies, which was initiated last year with the aim of encouraging startups to stay in the country. This initiative was prompt…