Japan has exempted token issuers from paying 35% capital gains tax on unrealized gains

According to CoinDesk, the Japan National Tax Agency issued a notice to clarify how to tax crypto issuers who hold their own tokens. Among them, token issuers will no longer need to pay capital gains tax of about 35% on unrealized gains, Among them, the tax exemption applies to the unrealized gains arising from the continuous holding of the applicable cryptocurrency or the adoption of certain technical measures to prevent its transfer to other people since the date of issuance. The Japanese industry association is also seeking other tax reforms, including taxing crypto gains at the same rate as stocks and taxing individuals only when crypto gains are converted to fiat currency.