TechFlow news — On July 31, according to Coinpost, the Japan Cryptoasset Business Association (JCBA) and the Japan Virtual and Cryptoasset Exchange Association (JVCEA) jointly submitted a request to the government on July 30 regarding cryptocurrency tax reforms for the 2025 fiscal year. The two associations pointed out that under the current tax system, income from cryptocurrency transactions is classified as miscellaneous income, subject to income tax rates ranging from 5% to 45%, and reaching up to 55% when local inhabitant taxes are included. They emphasized that the existing tax framework "hinders public access to and use of cryptocurrencies," and stated that the tax system represents the biggest obstacle to the government's promotion of Web3 development. The request highlighted the urgent need for rational adjustments to the crypto tax regime to support the healthy growth of the industry. On July 19, the Japan Blockchain Association (JBA) also submitted a separate request to the government calling for cryptocurrency tax reforms in 2025.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / [email protected] ICP License: 琼ICP备2022009338号
