Japan blockchain group to launch tax panel on crypto, stablecoins and DeFi

The Japan Blockchain Collaborative Consortium said it will set up a tax subcommittee to discuss taxation related to cryptocurrencies, stablecoins and DeFi. The group plans to organize tax issues companies face in payments, remittances, fundraising, asset management and compensation, and then make policy proposals. BCCC said businesses face barriers to entering the market because tax treatment guidelines for different transaction types remain insufficient when using digital assets in operations.