Japan Grants Tax Exemption to Crypto Token Issuers 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 tax committee approved a proposal to exempt crypto startups that issue their own tokens from paying corporate taxes on unrealized gains last December. The tax exemption will also apply to unrealized gains from holding applicable cryptocurrency continuously from the date of issuance or from taking certain technical measures to prevent its transfer to other persons.