Browsing: Japan

Japan’s National Tax Agency has announced a partial revision of its corporate tax guidelines. The revised guidelines introduce a fresh set of rules specifically designed for digital token issuers, effectively eliminating taxes on unrealized gains from crypto assets issued by companies.

According to Kyodo News, Japan is preparing to implement stricter measures against money laundering, which will include the adoption of the “travel rule” established by the Financial Action Task Force (FATF). The decision was made by Japan’s cabinet on Tuesday following the FATF’s assessment that the nation’s existing anti-money laundering measures were inadequate.

Binance, the cryptocurrency exchange, is ready to re-enter Japan after acquiring the licensed cryptocurrency trading platform Sakura Exchange Bitcoin (SEBC). Binance purchased the exchange, a Japan Financial Services Agency-licensed company, in November 2022, with the intention of reentering the Japanese crypto market.