Shun Otokita

Japanese Tax System Not Equipped to Handle Cryptocurrencies

Japan is planning to enforce new cryptocurrency regulations in the country in May but its existing tax system may not be properly equipped to handle digital currency transactions. According to a top government official, the system still needs some tweaks before it can manage crypto taxes.Japanese taxation regime needs a changeRepresentative Shun Otokita of the Japan Innovation Party held a Q& A session at the Financial Statements Committee on April 6. Therefore, he talked about the value of market research before introducing a separate tax regime for digital currencies. He