Japan looks at corporate crypto tax breaks to entice startups

Japan’s financial services agency (FSA) and the ministry of economy, trade and industry are considering a tax reform proposal for 2023 that could exempt crypto startups that issue their own tokens from paying taxes on unrealized gains.

The potential tax reduction is aimed at encouraging startups to remain in Japan. According to CoinDesk, heavy tax burdens may be causing crypto firms to quit the country altogether.