CoinVoice has learned that regarding "Japan will classify Bitcoin as a financial product this year," crypto analyst Willy Woo commented, "Japanese people will be more motivated to buy Bitcoin. Classifying Bitcoin as a financial product means that Bitcoin gains (or trades) will be taxed at a rate of 20%, rather than the marginal income tax rate (which is 43-55% if annual income exceeds $57,000). Metaplanet will lose its tax arbitrage advantage relative to self-custodied Bitcoin. About 110 other cryptocurrencies are also included, with staking earnings taxed at the marginal tax rate."
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CoinVoice has learned that regarding "Japan will classify Bitcoin as a financial product this year," crypto analyst Willy Woo commented, "Japanese people will be more motivated to buy Bitcoin. Classifying Bitcoin as a financial product means that Bitcoin gains (or trades) will be taxed at a rate of 20%, rather than the marginal income tax rate (which is 43-55% if annual income exceeds $57,000). Metaplanet will lose its tax arbitrage advantage relative to self-custodied Bitcoin. About 110 other cryptocurrencies are also included, with staking earnings taxed at the marginal tax rate."