In Japan, tokens issuers were allowed not to pay an unrealized profit tax – Bits Media

The National Tax Agency of Japan has revised the law on the taxation of cryptocurrencies. Now companies, producing tokens, No need to pay 30% unrealized profit.

The Japanese parliament discussed the new rules for taxation of cryptocurrencies with last August, But the tax authority approved the exclusion of tax on unrealized profits only now. According to representatives of the ruling liberal-democratic party of Japan, This "greatly facilitates the work of companies, Whose business is related to the release of tokens ".

Recall, that stablecoins in Japan were recognized as digital money last year, And their release was allowed only to licensed banks. The law came into force since 1 june. Now the largest Japanese bank MUFG is negotiating with foreign companies, producing stablecoins, to launch tokens on your blockchain platform Progmat.

The Japanese government for six months ago excluded unrealized profits of cryptocurrencies from the tax base.. but, to companies, producing tokens, This relief did not apply.