{"id":1433,"date":"2024-10-21T08:01:49","date_gmt":"2024-10-21T08:01:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1433"},"modified":"2024-10-21T08:01:49","modified_gmt":"2024-10-21T08:01:49","slug":"crypto-tax-reform-on-the-horizon-japans-tamaki-pledges-change-if-elected","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1433","title":{"rendered":"Crypto Tax Reform On The Horizon? Japan\u2019s Tamaki Pledges Change If Elected"},"content":{"rendered":"
\n

The crypto industry is buzzing this year, not just because of new memes, coin pumping, or Bitcoin leading another bull run. It\u2019s now a hotly debated election issue, dividing the electorate and promising to bring the industry to new heights. And we\u2019re not just talking about the US elections<\/a> and Trump\u2019s pro-crypto stance; digital currency as an election issue has spilled over to Japan, where it\u2019s scheduled to hold its general elections this October 27th.<\/p>\n

Yuichiro Tamaki, the leader of the Democratic Party for the People (DPP), has recently promised tax cuts and reforms<\/a> as part of the party\u2019s efforts to shore up support. Posting on his official Twitter\/X account, Tamaki shared that his party is pursuing crypto-friendly tax policies, offering tax cuts of up to 20%.<\/p>\n

\nIn a translated X post, Tamaki said:<\/p>\n

\u201cIf you think crypto assets should be taxed separately at 20% instead of treated as miscellaneous income, please vote for the Democratic Party for the People.\u201d<\/p>\n<\/blockquote>\n

Tamaki Courts The Crypto Crowd Ahead Of General Elections<\/strong><\/h2>\n

This year\u2019s elections are crucial for the country after months of financial scandals and unpopular leaders living the good life. The October 27th elections will take place a year early, following Prime Minister Fumio Kishida\u2019s resignation over low approval ratings.<\/p>\n

\n

\u3010\u62e1\u6563\u5e0c\u671b\u3011
\n\u6697\u53f7\u8cc7\u7523\u306b\u95a2\u3057\u3066\u660e\u78ba\u306a\u6e1b\u7a0e&\u898f\u5236\u6539\u9769\u3092\u6253\u3061\u51fa\u3057\u3066\u3044\u308b\u306e\u304c\u56fd\u6c11\u6c11\u4e3b\u515a\u3067\u3059\u3002<\/p>\n

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\u3053\u3046\u3057\u305f\u56fd\u6c11\u6c11\u4e3b\u515a\u306e\u516c\u7d04\u3092\u62e1\u6563\u3057\u3066\u3044\u305f\u3060\u3051\u308c\u3070\u5e78\u3044\u3067\u3059\u3002\u2026 pic.twitter.com\/hpbX966yTJ<\/a><\/p>\n

\u2014 \u7389\u6728\u96c4\u4e00\u90ce\uff08\u56fd\u6c11\u6c11\u4e3b\u515a\u4ee3\u8868\uff09 (@tamakiyuichiro) October 20, 2024<\/a><\/p>\n<\/blockquote>\n

Tamaki\u2019s Democratic Party for the People comes into the elections as a clear underdog, as the party controls only seven of the 465 seats in the lower house of the National Diet. So, it isn\u2019t surprising that the party is taking on bold initiatives to attract as many voters as possible to the party.<\/p>\n

<\/p>\n

In the same Twitter\/X post, Tamaki asked its followers to vote for the party and spread the word about their proposed tax policies. Also, Tamaki\u2019s post includes a link to the party\u2019s official pledge document. He ends the post by thanking the supporters for spreading the word about this crypto policy.<\/p>\n

Tamaki And DPP\u2019s Crypto Pledge \u2013 Here\u2019s What To Expect<\/strong><\/h2>\n

Tamaki\u2019s proposal aims to promote the use of non-fungible tokens (NFTs) in governance and implement a separate 20% tax on crypto assets. Currently, there is a 55% tax on such assets<\/a>, which is filed under miscellaneous income. In addition, the policy paper includes allowances for loss deductions and exemption of crypto-to-crypto transactions from taxes.<\/p>\n

\n

\u7dcf\u5408\u8ab2\u7a0e\u5316\u306f\u5c06\u6765\u7684\u306a\u691c\u8a0e\u8ab2\u984c\u3067\u4eca\u306f\u8003\u3048\u3066\u3044\u307e\u305b\u3093\u3002\u3068\u306b\u304b\u304f\u4eca\u306f\u3001\u65e5\u672c\u3092web3\u30d3\u30b8\u30cd\u30b9\u5f37\u56fd\u306b\u3057\u305f\u3044\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u2014 \u7389\u6728\u96c4\u4e00\u90ce\uff08\u56fd\u6c11\u6c11\u4e3b\u515a\u4ee3\u8868\uff09 (@tamakiyuichiro) October 20, 2024<\/a><\/p>\n<\/blockquote>\n

DPP\u2019s policy paper also calls for increasing the allowable leverage rates for trading and establishing exchange-traded funds (ETFs). Finally, the party promises to convert the yen into an \u2018electronic currency\u2019 and initiate a digital local currency issuance.<\/p>\n

Bumpy Road Ahead For Crypto Legislations<\/strong><\/p>\n

Crypto-related policies and promises are gaining traction in elections, with the US and Japan as examples. While the US gets Trump, who\u2019s now leading in betting markets, and Elon Musk as a cheerleader, Tamaki\u2019s party faces an uphill battle. Also, the current situation in Japan is that its people are struggling with inflation and taxation.<\/p>\n

Tamaki\u2019s post got mixed replies from users. One user says the country is trying to survive by taxing its people. Others are more supportive of the proposal, saying they\u2019re happy that filing tax returns will become easier.<\/p>\n

Featured image from Sakuraco, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The crypto industry is buzzing this year, not just because of new memes, coin pumping, or Bitcoin leading another bull run. It\u2019s now a hotly debated election issue, dividing the electorate and promising to bring the industry to new heights. And we\u2019re not just talking about the US elections and Trump\u2019s pro-crypto stance; digital currency […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1433","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1433"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1433\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}