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The post Japanese FSA Proposes Crypto Tax Reform for 2024! appeared first on Coinpedia Fintech News
The Japanese Financial Services Agency (FSA) has presented tax reforms for 2024 that would affect crypto assets. The proposal demands a review of the taxation of year-end market valuations of crypto assets held by third parties. Currently, domestic companies holding crypto assets are taxed on unrealized gains and losses without cash flow. The FSA aims to encourage blockchain technology and boost entrepreneurship in the Web3 environment with the new proposal. Year-end market value taxation will apply to legal entities, other than issuers, holding relevant crypto assets.
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