The leader of the Democratic Party of Japan, Yuichiro Tamaki, has proposed a crypto tax plan that, if elected, would reduce the tax on crypto earnings to 20%.
In an X post, Tamaki said: "If you think crypto assets should be taxed separately at the 20% rate, rather than treated as miscellaneous income, please vote for the People's Democratic Party."
But the plan may be far from being realized, as the Democratic Party currently holds only seven of the 465 seats in Japan's lower house, the lower house of parliament. Under Tamaki's plan, exchanging one cryptoasset for another would not trigger any tax event.
The leader of the Democratic Party of Japan has promised to cut cryptocurrency taxes to 20% after being elected.
2024-10-21 06:02:25
Democratic Party of Japan leader Yuichiro Tamaki Ichiro yuichiro tamakidesk3cryptocurrencydesktopCrypto News
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