A buddy talked about the taxes on cryptocurrency trading in Japan, and it was even funnier. If you buy a coin for 1 yen and it rises to 1 billion yen, when you sell it, you'll have to pay about 550 million in taxes. So many people can't sell. They end up holding onto it until it becomes an inheritance for their children. If the children want to access these coins, they also have to pay 550 million in inheritance tax. But the children have no money and must pay 550 million in cash within 10 months, so they can only sell the coins. However, when they sell 1 billion yen worth of coins, they also incur 550 million in income tax. So if you leave your children 1 billion yen worth of coins, the total of inheritance tax and income tax would be 1.1 billion yen. With double taxation, the children end up owing the government 100 million yen, leading to personal bankruptcy and asset seizure. It's incredibly absurd. 🤣