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Japan recognizes crypto as a financial product in new tax bill

The amendments set up separate crypto taxation at about 20%, down from the prior maximum 55% rate.

Reported · Written up by our desk · Regulation

Japan has passed a bill that recognizes crypto as a financial product, creating a framework for separate crypto taxation, according to The Block.

The changes include amendments that establish crypto-specific tax treatment, with the effective rate set at roughly 20%.

That level would be a sharp reduction from Japan’s current maximum crypto tax rate of 55%, The Block reported.

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