Japan Blockchain Association called the taxation of crypto-assets the biggest barrier for web3 businesses in Japan.
“In the borderless web3 era, there is a high possibility that the exchange of crypto-assets will become the mainstream of the economic zone, and due to the wide variety of transactions that occur and the types of crypto-assets that are exchanged, tax
calculation will be extremely difficult.”, highlighting its potential to transform the internet and kindle social change. On the same day, Binance CEO Changpeng Zhao announced the cryptocurrency exchange would launch its services on a new Japanese platform in August 2023.
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