PANews reported on January 11th that, regarding Japan's decision to classify Bitcoin as a financial product this year, crypto analyst Willy Woo commented, "Japanese people will be more incentivized to buy Bitcoin. Classifying Bitcoin as a financial product means that Bitcoin gains (or transactions) will be taxed at 20%, instead of the marginal income tax rate (43-55% if annual income exceeds $57,000). Metaplanet will lose its tax arbitrage advantage relative to self-custodied Bitcoin. Approximately 110 cryptocurrencies are also included, with staking gains taxed at the marginal rate."
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact
[email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.