Kavan Choksi Overview of Legality of Cryptocurrency

Japan is now one of the most progressive nations, which opens up a positive climate for cryptocurrencies. Japan had recognized Bitcoin and the other leading cryptos as legal property holdings under PSA (Payment Services Act). Based on these regulations, Japan’s crypto exchanges need to be registered with the AML/CFT obligations and comply with its rules. As we all know, Japan is one of the biggest global markets of Bitcoin now. Back in 2017, the National Tax Agency of Japan ruled that the gains over cryptocurrency need not be categorized as any miscellaneous income, and the investors will be taxed accordingly.

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Kavan Choksi Overview of Legality of Cryptocurrency

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