Japan plans to exempt long-term corporate holdings of cryptocurrencies from capital gains tax

Japan's Liberal Democratic Party and Komeito held a tax system survey meeting on December 5 and approved the tax system revision requirements of various government departments. The Japanese government and ruling party plan to revise the taxation system for companies holding virtual currencies. Virtual currencies held by legal entities for long periods of time other than for short-term trading purposes will be exempt from capital gains tax at the end of the period. (Nihon Keizai Shimbun)