TechFlow news: Japan's ruling Liberal Democratic Party's Web3 project team has approved a white paper proposing recommendations for the development of the country's industry. The white paper指出 that Japan should discuss cryptocurrency issues at this year's G7 summit. It recommends that the nation look ahead to the future potential of Web3 and clarify its leading position in technology-neutral and responsible innovation.
The white paper suggests further modifications to tax regulations, noting that a significant exemption for token issuers has already been approved. This includes tax exemptions for companies holding tokens issued by other companies when such tokens are not subject to short-term trading. It proposes allowing self-assessment so investors can carry forward losses for three years, and that cryptocurrency should only be taxed when assets are converted into fiat currency.
It also recommends establishing a DAO law based on Japan's godo kaisha (a business structure similar to a limited liability company).
Notably, Japan passed a regulatory framework for stablecoins last year. The new white paper emphasizes the importance of preparing an environment for stablecoin registration and establishing a self-regulatory organization. It also mentions proposals for developing yen-backed stablecoins.
Add to Favorites
Share to Social Media
