The Prime Minister of Japan stated that the government considers the development of the national market for digital assets and Web3 technologies to be an 'extremely important direction' for addressing everyday tasks.
Shigeru Ishiba, at a meeting of the budget committee of the House of Representatives of the Japanese Parliament, stated that financial regulators are discussing cryptocurrency tax reform for 2025 and are considering various 'necessary legal measures to turn cryptocurrency into an asset that contributes to the development of the national economy.'
A bill is under consideration by government authorities that provides for the introduction of a separate tax on profits and losses from cryptocurrency transactions.
'The healthy development of the crypto industry and the Web 3.0 space is of great importance to the country. However, the imperfection of regulatory norms and the excessively strict taxation system for cryptocurrency assets in Japan compared to other countries hinders the growth of our competitiveness,' said the head of government.
Finance Minister Katsunobu Kato informed lawmakers that the Financial Services Agency of Japan (FSA) will propose a new classification of digital assets and updated tax legislation by mid-2025.
Previously, Prime Minister Shigeru Ishiba stated that Japan is not ready to form a strategic state reserve of bitcoins, as it is unclear how this idea can be implemented.#Solana #PUTIN #CASHA
