Japan’s easing crypto policy attracts crypto exchange Binance to ask for reentry to this island nation after failing to do so four years ago due to stringent measures, according to Bloomberg.
Based on Japanese Prime Minister Fumio Kishida’s plan of revamping the economy, spurring growth in Web3 firms is a key agenda. Therefore, Binance seeks an operational licence in the nation to enhance crypto growth and adoption.
A Binance spokesperson pointed out:
“Binance is committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward.”
In August, the Japanese government proposed a corporate-friendly crypto tax that would take effect from 2023, Blockchain.News reported.
For instance, a 20% tax on income tax on cryptocurrency gains earned by individual investors was proposed, down from the current rate of 55%.
Lobby groups have been calling for corporate taxes to be relaxed because they were making crypto...
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