Japan’s Crypto Regulations: 20% Tax and Compliance Makeover
Japan is really shaking things up with its crypto regulations. The Financial Services Agency (FSA) is proposing a flat 20% tax on crypto gains and classifying crypto assets as financial products. This could change the game for crypto business banking in the country, especially with the added compliance requirements.
Flat 20% Tax on Crypto Gains: A Mixed Bag for Crypto Payroll Regulation
Right now, crypto earnings are taxed as “miscellaneous income”, and the rates can go as high as 55% for the big traders. That’s among the highest in the world. The proposed flat 20% capital gains tax would align it with stocks, possibly making things easier for small and medium-sized enterprises (SMEs) and individual investors. It could even help with
