Japan’s Taxes on Crypto Firms Are Leading Some to Leave the Country

Japan’s Taxes on Crypto Firms Are Leading Some to Leave the Country
Crypto companies in Japan have implored authorities to change tax policies that some say are driving them out of the country. Recent government policy announcements indicate their calls are unheeded.On Dec. 10, Japan’s ruling coalition approved a tax plan for the 2022 fiscal year that continues to treat token listings as taxable. Once tokens are listed on an active market, issuers are liable to pay tax even if they don’t sell.A project that lists some of its tokens on exchanges and keeps the rest in its treasury also has to pay taxes on what it holds if its market value…