TechFlow news: The Japan Blockchain Association (JBA) has submitted a request to the government calling for a review of cryptocurrency tax policies that are hindering the growth of Japan's Web3 industry.
The proposals include: 1. Eliminating the year-end taxation on unrealized gains for companies holding crypto assets issued by third parties, to encourage new companies entering the Web3 sector; 2. Implementing separate taxation and loss carryforwards—taxation on individual crypto asset transaction profits should shift from comprehensive taxation to separate filing with a flat tax rate of 20%. Additionally, losses could be carried forward for three years starting the year after they occur and deducted from crypto-related income in subsequent years; 3. Abolishing income tax levied on each crypto asset transaction.
