According to BlockBeats, on September 4, CoinDesk reported that the Japanese Financial Services Agency (FSA) stated in a document reviewing tax reforms that “regarding the tax treatment of crypto asset transactions, it is necessary to consider whether crypto assets should be regarded as financial assets that should be the subject of public investment.”
The country currently taxes cryptocurrency profits as income, which can be as high as 45% for those earning more than 4 million yen ($276,000), while capital gains from the sale of securities such as stocks are taxed at a flat 20%, a change that could result in lower taxes for some cryptocurrency investors.
