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Japan's JCBA and JVCEA jointly issued tax reform requirements for fiscal year 2023, proposing separate taxation on cryptocurrencies



Time:8/4/2022 12:02:06 PM

[Japan's JCBA and JVCEA jointly issued tax reform requirements for fiscal year 2023, proposing separate taxation on cryptocurrencies] On August 4, the Japan Encrypted Assets Business Association (JCBA) and the Japan Encrypted Assets Exchange Association (JVCEA) released the 2023 The tax reform requires that cryptocurrencies be taxed separately at a rate of 20%.

The Fiscal Year 2023 Tax Reform Request addresses several issues that both organizations believe hold back the development of the crypto industry. These issues include the need to facilitate tax declarations, the lack of consistency within the system, comparisons with overseas crypto asset tax systems, and the importance of crypto assets in Japan’s Web3 strategy. (BeInCrypto)

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Voice | Japan Metropolitan Police Department: Ban the use of computer viruses for illegal remittance of encrypted currency and other cyber threats: According to Coinpost, the Nara Prefecture Metropolitan Police Department in Japan has released two notices on the "crime of electromagnetic recording of illegal instructions" (computer virus crime), The police of all prefectures and counties are required to actively crack down on computer virus crimes and promote related reports. The filing identifies elements of the charge, including cryptocurrency-related content. In the "Strengthened Suppression" document, it is mentioned that it is necessary to promote the suppression of threats in cyberspace such as illegal remittances of cryptocurrencies caused by the use of illegal command electromagnetic records, and its background refers to the theft of cryptocurrency exchanges. [2019/4/12]

Huobi Japan CEO Chen Haiteng: To enter the Japanese market, you must do as the Romans do: Huobi Japan CEO Chen Haiteng said at the roundtable meeting at the 2018 Asia-Pacific Blockchain Summit that when entering the Japanese market, first, you must follow the Romans as Japan is a special market. You must be patient to understand the Japanese way of doing things, and understand Japanese companies and laws. The second is Japan's censorship mechanism. Its censorship standards are not disclosed, and you don't know whether it is related to money. According to the situation in the past years, Baidu's Japanese branches generally have to wait until the eighth year to make money. This is also a common situation, but in China, if they don't make money for three years, investors will definitely withdraw their capital. But the Japanese market is not like this. You don’t know if it’s successful until the end. [2018/3/28]

Deutsche Bank Says Bitcoin Boom May Affect Japanese Forex Trading: Deutsche Bank: Bitcoin Boom May Affect Japanese Forex Trading. The bank's global financial analyst Masao Muraki pointed out that Japanese retail investors are shifting from "leveraged foreign exchange trading" to "leveraged cryptocurrency trading." [2017/12/15]

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