As Bitcoin and other digital currencies became more relevant for the world’s financial system, numerous countries have started regulating the cryptocurrency market. One of the most important efforts was focused towards crypto taxation policies.
Now, recent reports indicate that the Japanese Tax Commission is unsatisfied with Japan’s current crypto taxation system, and is urging the country’s National Assembly to introduce new guidelines. This is great news for the Japanese crypto community, granted that until now, reporting crypto gains and investment profits was a confusing and exhausting experience. This aspect discouraged crypto users from disclosing their taxes, and put them at risk.