Japan plans to review cryptocurrency regulations, possibly reducing digital asset taxes and introducing cryptocurrency funds
ChainCatcher news, according to Bloomberg, the Financial Services Agency (FSA) of Japan will begin reviewing the country's cryptocurrency regulation rules in the coming months.
An FSA official stated that this evaluation will focus on whether the current "Payment Services Act" adequately regulates cryptocurrencies. This move could pave the way for reducing digital asset taxes and launching Japanese cryptocurrency investment funds.
Currently, Japan's cryptocurrency industry is seeking to reduce the tax rate on digital asset earnings from a maximum of 55% to 20%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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