Japan Exempts Crypto Startups From Capital Gains Tax on Unrealized Gains

Japan's National Tax Agency has clarified that crypto issuers in the country will not have to pay capital gains taxes on unrealized gains. The ruling Liberal Democratic Party (LDP) tax committee approved a proposal to exempt crypto startups from paying corporate taxes on unrealized gains last December. The partial revision noted in the June 20 document is a change from an earlier requirement that subjected token issuers to a capital gains tax.