Japan Financial Services Agency Discusses Promoting the Handling of In-Game Virtual Currencies and Other Issues
Japan Financial Services Agency (FSA) discussed a more convenient mechanism for businesses to handle crypto assets (virtual currencies) at a group meeting on its revision of the funds settlement law. Participants believed that reducing the burden on businesses would facilitate the participation of large domestic gaming companies and promote research and development of related blockchain ecosystems. It was also mentioned that discussions on exchange regulation and new rules are becoming more frequent as the virtual currency market expands.
Rep. Akira Taira, head of the Liberal Democratic Party's Web3 project team, pointed out that the unoptimized tax issue poses an obstacle to startup founding, leading to the flow of talented people and companies overseas.
The OFC emphasized that the issue of directly assessed taxation of self-generated tokens has been resolved through tax reform, but still faces the challenge of auditing non-mainstream tokens.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
GM briefly breaks above $0.05 and then falls back, up 46.44% in 24 hours
A giant whale sold about 150,000 INJs and purchased 2.44 million LDOs in the past half hour