đ Exciting News for Bitcoin Enthusiasts in Japan! đ
Yuichiro Tamaki, leader of Japanâs Democratic Party for the People (DPP), has unveiled a bold crypto tax reform plan aimed at fostering a vibrant token economy, including Web3 and NFTs. If he wins the election, Tamaki proposes slashing crypto gains tax to a 20% separate declaration tax, aligning it with stock market earnings. đđ°
Currently, crypto investors face up to 55% tax under miscellaneous income. Tamaki's plan also includes carrying forward losses for three years and tax exemptions for crypto-to-crypto exchanges. đĄ
Moreover, the proposal suggests raising leverage limits from 2x to 10x and introducing crypto ETFs. This reform could position Japan as a leader in the Web3 space, modernizing its financial system and boosting regional economies through digital yen and local digital currencies. đđč
Japan's Financial Services Agency (FSA) will review the current crypto regulations to ensure they effectively protect investors. With these changes, Japan could become a powerhouse in the crypto world! đ
Stay tuned for more updates! đ