Japan cryptocurrency groups seek tax cuts to halt talent exodus

Cryptocurrency lobbying groups in Japan plan to ask the government to ease corporate tax rules that are seen to be stunting growth of the local digital asset industry.

Two of the top bodies β€” the Japan Cryptoasset Business Association (JCBA) and the Japan Virtual and Crypto assets Exchange Association (JVCEA) β€” are preparing to submit a proposal to the Financial Services Agency (FSA) asking it to lower the cost for companies to issue and hold cryptocurrency tokens, according to an internal memo.

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