Japan’s crypto maneuver! On 30th September, in an official release, Japan’s Financial Services Agency (FSA) released its tax reform requests for the fiscal year 2025, highlighting virtual currencies in its “A plan to double asset income” section. The FSA suggests that virtual currency transactions should be considered as financial assets for investment. The reform also aims to expand the scope of loss offset to include derivative transactions. Industry groups are pushing for a shift from the current 55% tax rate on virtual currency income to a flat 20%. The FSA’s stance may influence the legalization of virtual currency ETFs in Japan.

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