Japan LDP Group Proposes 20 Pct Tax on Cryptocurrency Gains
Tokyo, May 13 (Jiji Press)--A group in Japan's ruling Liberal Democratic Party has released a set of proposals on tax and regulation for cryptocurrencies, including a 20 pct tax on gains from trading.
The proposals, presented at a meeting Monday, call for regulating cryptocurrencies, currently subject to the payment services law, under the financial instruments and exchange law in order to strengthen investor protection and disclosure regulation.
The group of LDP lawmakers promoting blockchain technology also seeks to impose a flat tax of 20 pct on gains from cryptocurrency trading under a separate taxation framework as is the case with capital gains on stocks.
At present, gains from cryptocurrency trading are subject to a tax of up to 55 pct under a comprehensive taxation framework in which the gains are aggregated with other taxable income.
The proposals include a request to give the green light to the creation and distribution of exchange-traded funds incorporating cryptocurrencies. In countries like the United States, cryptocurrency ETFs have been approved and drawn an influx of funds.
(2025/05/13-19:04)
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