⌛ Block 889101: Important News of the Week(s)
Catch up with some of the key news and updates from the past few weeks 📰 ⏬
Discussion
Nostr Wallet Connect (NWC) client support 👍
"Japan has reduced the capital gains tax on digital assets from 55% to 20%."
This is false. They have put forward a proposal. It's clearly stated in the X post that you cite for this. The tax rate has not changed (yet).
Good catch. The original article linked to is by nostr:nprofile1qy2hwumn8ghj7erfw36x7tnsw43z7un9d3shjqpq79ud6qjecennnypk4ntphmvdrmtvaqlkgd6x7jsrmjr25hfttlmq4xk26j It seems something may have gotten lost in translation. Thanks for pointing it out.
Actually the CGT on crypto in Japan isn't a flat 55%, that's just the max income tax (crypto profit is categorised as income). Still shit though.
True. A lot of nuance, especially concerning taxes, inevitably gets lost when trying to summarize stories like this in a few sentences.
There's a flat 20% capital gains tax on stocks, so the current proposal is to make crypto sales the same, which shouldnt be too difficult. They're taking comments from the public until the end of the month then it will move forward. If it passes it will go into effect in a year or two. This is still moving faster than I expected. The proposal is coming from the ruling party, so there's a good chance it will pass. If you guys ever need to confirm any Japan news, feel free to reach out.
Straight signal is 🔥
Love the app updates section!
GM! 🌅☕️🍳📈🚀⚡️