Japan Forces Crypto Exchanges to Provide Information on Clients

In an effort to prevent tax evasion on income from digital assets, Japan is looking to enact measures that would force cryptocurrency traders to ‘tell on’ their clients. According to The Mainichi, the government of Japan is seeking to empower the National Tax Agency (NTA) to demand crypto exchanges to provide information on traders and investors who have been suspected of evasion.

Tax Evasion on the Rise

Japan remains one of the leaders in the global cryptosphere, with the Japanese yen accounting for around 60% of (BTC). Last year, more than 300 individuals declared minimum earnings of 100 million yen from crypto investments an…

This article appeared first on Cryptovest

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