Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why!
Japan’s crypto lobby groups are insisting on lowering the current tax rates as it might be hindering the industry growth. Lowering the tax rates would eventually help to retain talent in the crypto industry. Specifically two of the top crypto lobbying groups, the Japan Cryptoasset Business Association and the Japan Virtual and Crypto assets Exchange […]
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A Zimbabwean business lobby group, the Confederation of Zimbabwe Industries (CZI), has warned that the country’s currency could collapse if authorities fail to “implement policy measures that are needed to support it.” Central Bank Approach Unsettling the Market In a letter seen by Bitcoin.com News, the lobby group’s president Kurai Matsheza explained that the heavy-handed approach towards the foreign exchange challenge would be unsettling to markets. To ensure that this challenge is fully tackled, the CZI boss insists that measures, which were agreed upon by....
Danny Talwar from crypto tax platform Koinly said Japan’s regulatory environment makes it difficult for businesses and individual investors to hold digital assets in Japan. Japan’s leading crypto lobby groups plan to submit a proposal to Japan’s financial regulatory body to address its high crypto taxes, which experts warn make Japan less competitive as a crypto hub. According to an internal memo seen by Bloomberg, the proposal will be submitted to Japan’s Financial Services Agency (FSA) this week, asking them to put an end to taxing unrealized gains on crypto holdings “if the firm owns....
According to a recent report by CoinPost, MUTB, a subsidiary of Mitsubishi UFJ Financial Group, one of Japan’s largest financial institutions, in partnership with Binance Japan and Progmat, has announced the start of joint consideration for the development of a new stablecoin. Leveraging the Progmat Coin platform, compliant with Japanese regulations, the collaborative effort aims […]
Four institutions with significant stakes in the success of Bitcoin launched a trade group to lobby policymakers for favorable regulation.
Could a new, coordinated effort to digitalize the Japanese economy be strong enough to compete with residents’ persistent use of cash? Japan’s three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen. The group consists of banks, various Japanese brokerages, utility and telecom firms and retailers, according to a Reuters report published on Nov. 19.For the purposes of the experiment, the private banks will be responsible for issuing the currency, although the prospect of other actors becoming involved in issuance has....