Japan Developing System to Detect Crypto Tax Evasion

Japanese newspaper Mainichi Shimbun ran a report on 4 December that says Japan’s National Tax Agency (NTA) is seeking new ways to prevent cryptocurrency tax evasion. The tax authority is now in the process of developing a dedicated tax auditing system that will allow it to seek data from intermediaries like cryptocurrency exchanges and other financial institutions involved in cryptocurrencies. The system will eventually be authorized by a relevant bill from the government.

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