Home Undeclared Crypto Value In Japan Dropped

Undeclared Crypto Value In Japan Dropped

Share
Share

Undeclared Crypto Value In Japan Dropped

Japan’s National Tax Agency (NTA) reported a 19% drop in undeclared income in crypto in 2022, with 615 investigations initiated, up from 444 in 2021. 

In 548 cases, the agency found tax violations, a 35% increase from 405 in 2021. However, the average value of undeclared crypto holdings dropped from 36 million Japanese yen which is around $245,000 in 2021 to 30 million yen which is around $206,000 in 2022. 

In August, Japanese regulators confirmed that citizens would be exempt from a capital gains tax on unrealized gains in crypto, reducing their tax burden by around 35%. 

Japan is among nearly 50 nations that have pledged to “swiftly transpose” the Crypto-Asset Reporting Framework into their domestic law systems.

(With inputs from Shikha Singh)

Share

Latest News

India’s ARC Token Targets Q1 2026 Launch | 3verseTV

India’s ARC Token Targets Q1 2026 Launch To Strengthen Domestic Digital Liquidity

India’s Asset Reserve Certificate (ARC) token, a fully collateralized digital asset developed by Polygon and fintech firm Anq, is expected to launch...

News
Bitcoin spot ETFs saw

Bitcoin Funds Suffer Second-Largest Daily Outflow at $903 Million

When billions exit in days, it’s not routine volatility — it’s a signal that the ETF era is entering its most decisive...

News

Tether Backs Parfin To Push Institutional USDT Adoption Across Latin America

Tether has invested in Parfin, a London- and Rio de Janeiro-based digital asset platform, to push USDT deeper into Latin America’s institutional...

News
Japan’s $2.5T Asset Managers Enter Crypto

Crypto Goes Mainstream? – Japan’s $2.5T Asset Managers Enter Crypto Market

When big money meets blockchain light, Japan’s crypto future shines bright. Japan is entering a new financial era, with six of its...

Latest Blogs

The Hidden Risks Behind the Digital-Asset Treasury Boom

Since Strategy (formerly MicroStrategy) restructured its business model to focus on acquiring Bitcoin in August 2020 as its primary reserve asset, digital...

Why Layer-2 Blockchain Tech is Key to Crypto Future?

What is Layer-2 Blockchain Technology? The blockchain technology sector faces increasing competition because developers work to create speedier transaction systems and user-friendly...

Ethereum Fusaka Upgrade Set For December 3: What It Means For ETH

Ethereum is bracing up for one of its most ambitious protocol upgrades yet in the ecosystem’s history, with the Fusaka Upgrade scheduled...

AI + Blockchain: How Artificial Intelligence is Transforming Crypto & Web3

What is AI Crypto? AI Crypto consists of blockchain projects and cryptocurrencies and tokens which implement AI technology to boost system performance...

Related Articles

The Hidden Risks Behind the Digital-Asset Treasury Boom

Since Strategy (formerly MicroStrategy) restructured its business model to focus on acquiring...

Why Layer-2 Blockchain Tech is Key to Crypto Future?

What is Layer-2 Blockchain Technology? The blockchain technology sector faces increasing competition...

Ethereum Fusaka Upgrade Set For December 3: What It Means For ETH

Ethereum is bracing up for one of its most ambitious protocol upgrades...

AI + Blockchain: How Artificial Intelligence is Transforming Crypto & Web3

What is AI Crypto? AI Crypto consists of blockchain projects and cryptocurrencies...