Japan to Drop 8% Bitcoin Sales Tax
Japan is reportedly planning to exempt bitcoin and other virtual currencies from a national sales tax. The country's Financial Services Agency – its top finance regulator – along with the Ministry of Finance are deliberating on a possible exemption, according to regional news service Nikkei. Bitcoin purchases in Japan are currently subject to an 8% sales tax. "Discussions between the Finance Ministry and Financial Services Agency are expected to lead to a formal decision after talks by a ruling-coalition tax panel at the end of the year," the agency reported. According to the....
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Japan’s plan to drop an 8% sales tax on bitcoin purchases could take effect as early as July 2017, according to documents obtained by CoinDesk. Though subject to final approval by senior Japanese government officials, an annual tax document prepared by the ruling Liberal Democratic Party and the Komeito party and published today offers new details on a proposal floated in October by the Ministry of Finance and the Financial Services Agency. The tax remains in place today. Yet if approved by the Cabinet, the plan would institute a grace period in June of next year, with the tax exemption....
After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid considerably following the same fallout cryptocurrency market have felt during the last four days.
NFT Sales and Trade Volumes Plummet
So far, September has not been the best month for NFTs and sales in this space. Last month, non-fungible token (NFT)....
The past week’s non-fungible token (NFT) sales have dropped again, following the last few weeks of diminishing volumes. Across 14 blockchains that support NFTs, sales have slipped 29.46% lower than the week prior. Despite the drop in NFT sales volume, NFT sales stemming from the Arbitrum network spiked by 97.53% this week.
NFT Interest and Sales Nosedive
According to Google Trends (GT) data, interest in NFTs has dive-bombed, as the search query for the term “NFT” slid from a score of 100 on GT during the first month of 2022, to this week’s score of....
Last week, non-fungible token (NFT) sales remained unscathed while crypto asset spot markets were dismal. However, a week later, NFT sales have dropped 13% to $800 million in sales over the last seven days. During the past week, NFT sales on the Ethereum blockchain have slipped 11.78% but Ronin blockchain-based NFT sales (Axie Infinity) dropped 47.83%. Weekly NFT Sales Slide Lower, Axie Infinity’s Ronin Sales Shed More Than 47% Statistics over the last seven days show that NFT sales are down across the 12 blockchains that produce NFTs. Cryptoslam.io shows that weekly NFT sales....
While crypto markets shed billions during the last seven days, non-fungible token asset sales are still up 81% since last week. Statistics indicate $4.7 billion in NFT sales were settled in seven days among 326,733 buyers, and Ethereum saw a continued rise in NFT sales volume. NFT Sales Remain Strong Despite Crypto Market Price Reversal Bitcoin, ethereum, and a myriad of digital assets have seen deep losses this week in terms of spot market value against the U.S. dollar and other fiat currencies. Despite the crypto market carnage, NFT sales continue to boom with $4.7 billion in sales since....