Japan's Financial Services Agency releases tax reform requirements for fiscal year 2025, mentioning virtual currency transactions for the first time
The Japanese Ministry of Finance has released tax reform requirements for the fiscal year 2025, which includes regulations related to cryptocurrency (virtual currency). The "Asset Income Doubling Plan and the Realization of National Asset Management" section of the reform plan mentions for the first time the issue of tax treatment for cryptocurrency transactions, discussing whether virtual currency should be treated as financial assets.
This tax reform request was proposed by various government agencies and will be reviewed by the ruling party's tax investigation committee and the National Diet after submission. Although the modification request has been submitted, a final decision has not yet been made. The call for tax reform for cryptocurrency companies has been present for the past two years, and this reform is the first to specifically mention tax treatment for cryptocurrency transactions.
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