The Financial Services Agency in Japan has proposed a tax break for crypto assets as well as lighter levies for individual stock investors. The financial regulator said companies should be exempted from paying taxes for paper gains on crypto coins. It also called for boosting a programme that gives tax breaks to individual investors. This is in support of Prime Minister Fumio Kishida’s efforts to reinvigorate the economy. Kishida’s “New Capitalism” vision seeks to boost the world’s third-largest economy. He has pledged to double the wealth of households while offering support to help the country’s so-called Web3 businesses grow. The tax panel of Japan’s ruling Liberal Democratic Party is set to make a decision on the proposal before the end of the year.
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