👉👉👉 #Japanese Crypto Advocate Wins Parliament Seat
Takeshi Fujimaki, a prominent advocate for #cryptocurrencies in Japan, has secured a seat in the House of Councilors, the lower parliamentary house. Despite losing his seat in the 2019 election, Fujimaki has been reinstated under proportional representation rules following the passing of a sitting lawmaker.
A 73-year-old champion of crypto and #blockchain initiatives, Fujimaki has been vocal about various issues, advocating for crypto tax reform, approval of US-style crypto ETFs, and the widespread adoption of pro-crypto business policies. In 2019, he urged the government to eliminate taxes on crypto-to-crypto trading and waive taxes on micropayments conducted in cryptocurrencies.
Having previously served as the Tokyo branch manager of international financial institutions, Fujimaki emphasizes the importance of blockchain and crypto assets for Japan's future growth. He believes these sectors could play a crucial role in attracting global capital and talent, ultimately revitalizing the country's economy.
Fujimaki's push for crypto #ETFsApproval is centered on the idea that such offerings could enhance Tokyo's tax revenue. He, a former aide to George Soros, gained attention in 2019 when he presented a petition on crypto tax reform to both houses of parliament.
The momentum for crypto adoption in Japan is not limited to Fujimaki, as several other politicians express interest in fostering the crypto sector. Yuichiro Tamaki, the Leader of the opposition Democratic Party for the People, advocates for promoting Web3 and taxing cryptocurrencies at a flat rate of 20%. Various crypto exchanges in Japan and MPs, including Shun Otokita of the Japan Innovation Party, are calling for changes to the country's crypto tax laws. The ruling Liberal Party's web3 taskforce is also signaling its intention to seek government adjustments to how individuals pay crypto-related taxes.
Source - Cryptonews.com
