Japan shakes up the cryptocurrency market: new law relieves the burden on token-issuing companies. The National Tax Agency of Japan has made a revolutionary change in cryptocurrency taxation. Now companies involved in token issuance can breathe a sigh of relief as they no longer need to pay a 30% tax on unrealized profits. This decision was the result of lengthy discussions in the Japanese parliament, which began as early as last August, and the tax authority recently confirmed this exemption.

Representatives of Japan's ruling Liberal Democratic Party noted that the innovation will "significantly facilitate the work of companies engaged in token issuance." This opens up new prospects for innovation and development in the cryptocurrency industry in Japan.

Stablecoins were already recognized as digital currency in Japan last year, but their issuance was only allowed for licensed banks. Now, with the new law taking effect on June 1st, the largest Japanese bank, MUFG, is in talks with foreign companies involved in stablecoin issuance to launch tokens on its Progmat blockchain platform.

Over the past six months, the Japanese government has already excluded unrealized profits of cryptocurrency holders from the taxable base, but this relief did not apply to companies issuing tokens. However, with the new law, these companies are granted well-deserved privileges, marking a breakthrough in the cryptocurrency industry in Japan.

Events in the cryptocurrency market are rapidly evolving, and the news of relieving tax burden on token-issuing companies confirms that Japan strives to be one of the leading countries in this field. It is an excellent time for cryptocurrency-related companies to seize new opportunities and make a leap forward on the path to success.