🇯🇵 Japanese lawmaker proposes four changes to ease crypto tax burden

Takeshi Fujimaki, a representative of political party Nippon Ishin has proposed a series of changes to the current taxation regime in Japan in order to ease the tax burden on individuals and encourage the adoption of cryptocurrencies in the country. Among the suggestions are a decrease in the current tax rate for crypto gains from 55 percent to 20 percent and the ability to carry tax losses forward. In addition the changes call for the ability to conduct trades between cryptocurrencies without triggering a taxable event and an exemption for small purchases made in crypto.