To boost the economy of Japan, Japan’s regulator, the Financial Services Agency (FSA), is suggesting lowering the corporate cryptocurrency tax in the nation.
Under the proposed revision, the agency wants companies excluded from paying taxes for paper gains on cryptocurrencies they hold after issuing them, Bloomberg reported on August 31.
The inability of new crypto-related projects to begin in the nation is of the high taxes. As a result, potential cryptocurrency startups have relocated to friendly jurisdictions like Singapore.
Source: Finbold
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