Japan considers implementing tax reforms to prevent capital flight of crypto ...
Industry experts say that the current scheme is stifling domestic innovation in the virtual currency sector. According to local news outlet Yomiuri, Japan's Financial Services Agency is considering amending the virtual currency taxation system for corporate entities ahead of the country's 2023 tax reform. The proposed change includes removing capital gain liabilities for undisposed corporate crypto assets at the end of each taxation year, as well as changing the classification of virtual assets so the maximum capital gains tax applicable is reduced to 20% from 55%. Under Japan's current....
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“Staying at the forefront of digital innovation is a key priority for Nomura,” said president and group CEO of Nomura Holdings Kentaro Okuda. Nomura, one of the largest investment banks in Japan, has established a venture capital arm aimed at investing in companies focusing on crypto and blockchain.In a Wednesday announcement, Nomura said the business, named Laser Digital, will “provide new value in the area of digital assets” for clients under the Switzerland-based holding company Laser Digital Holdings AG. The investment bank said it chose Switzerland based on its “robust regulatory....
Authorities in Japan are planning to introduce tougher new rules for crypto operators as part of efforts to prevent Russia from using cryptocurrencies to evade sanctions. The legislative initiative comes after Tokyo asked digital asset exchanges to strengthen transactions monitoring this month.
Government of Japan to Close Loopholes for Russians in Crypto Space
Amid concerns that Russia and its elites may employ cryptocurrencies to circumvent international sanctions, Japanese authorities are going to stiffen regulations for cryptocurrency exchanges. The platforms will be....
A total of seven mayors received the NFT awards for various initiatives they undertook to ease the lives of the public in their respective regions. The Japanese government has become one of the first to issue nonfungible tokens (NFTs) as a form of supplementary rewards to recognize the work of local authorities who have excelled at using digital technology to solve local challenges.The awards were handed out by the cabinet secretariat, a government agency that is headed by the nation’s chief cabinet secretary Hirokazu Matsuno during the “Summer Digi Denkoshien 2022” ceremony. The event was....
Unlike the U.S., Japan considers XRP to be a cryptocurrency, not a security.
According to Flightradar24’s official Twitter account, the most tracked flight at 3:33 a.m. on Nov. 12, 2022, was Sam Bankman-Fried’s (SBF) private jet flying from the Bahamas to Argentina. While the flight track doesn’t mean SBF took the flight, a number of people suspected someone from SBF’s inner circle did fly out of the Bahamas. The former FTX CEO, however, texted Reuters after the flight report, and told the news outlet he did not leave the Bahamas. Former FTX CEO’s Private Jet Embarks to Argentina, SBF Claims He Remains in the Bahamas The former FTX CEO and frontman, Sam....