Japan's Democratic Party leader promises to cut cryptocurrency tax to 20% if elected
Yuichiro Tamaki, leader of the Japanese Democratic Party, has proposed a cryptocurrency tax plan that would lower taxes on cryptocurrency earnings to 20% if he is elected. Tamaki stated in a post on X that "if you believe that cryptocurrency assets should be taxed separately at a rate of 20%, rather than being treated as miscellaneous income, please vote for the People's Democratic Party." However, the plan may be far from implementation as the Democratic Party currently holds only 7 out of 465 seats in the Japanese House of Representatives (the lower house of the National Diet of Japan). According to Tamaki's plan, exchanging one cryptocurrency asset for another would not trigger any tax events.
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