RATE Group | Japan Tells Tax Bodies to Stop Seizing Crypto + More Crypto News
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Japan Tells Tax Bodies to Stop Seizing Crypto + More Crypto News

26 Nov Japan Tells Tax Bodies to Stop Seizing Crypto + More Crypto News

Posted at 15:37h in Cryptocurrency News by

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Japan Tells Tax Bodies to Stop Seizing Crypto + More Crypto News 101
Source: iStock/tanukiphoto

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Regulation news

  • The Japanese cabinet has ruled that local authorities may not seize cryptocurrency holdings in the case of individuals that default on their tax payments. The cabinet also says national tax bills cannot be settled in cryptocurrencies. Per Jiji and Nikkansports, the ruling comes after a tax body in Neyagawa, in the Osaka Prefecture, seized just over USD 1 (122 yen) in cryptocurrency from a local man who had failed to pay an outstanding tax bill. The cabinet discussed the matter after an MP questioned the legality of the tax authority’s move.
  • Thailand’s Excise Department wants to use a blockchain platform to provide oil exporters with tax refunds. Per the Bangkok Post, the ministry intends to launch the platform “by the middle of next year.” The ministry…

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