Japanese law professor Tetsuya Mori: Japan’s Internal Revenue Service has taxed crypto asset transactions

On January 12, 2020, Huobi University ’s Global Blockchain Leadership Course GBLP Tokyo module was taught at the Ichihashi University ’s Ichihashi Lecture Hall. Japan ’s Sophia University School of Law Tetsuya Mori participated in Japan ’s entire legislation on crypto assets Experience, a comprehensive interpretation of Japanese crypto asset supervision.
He believes that Japan has taken the lead in establishing a regulatory framework for crypto assets in various countries around the world, and in particular has detailed legal definitions of the two sections of crypto asset and electronic record transfer rights and crypto asset exchanges. The regulator is mainly composed of three major agencies: the Financial Services Agency, the Japan Digital Asset Exchange Industry Association JVCEA, and the National Taxation Bureau. Among them, the Japanese Virtual Currency Exchange Association JVCEA is the only semi-official industry association recognized by the Financial Services Agency, which is responsible for formulating independent supervision regulations and inspection projects. The National Tax Agency of Japan classified the proceeds from crypto asset transactions into the “other income” column, which is the first legal regulation on crypto assets related taxes at the national level in the world.

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