The Japanese Blockchain Association (JBA) has asked the authorities to reconsider the taxation of cryptocurrencies ― according to the participants of the organization, the current regulations slow down the development of the industry.

Representatives of the public organization emphasize: it is necessary to revise taxation in order to spur the development of crypto projects. The organization asks to set a fixed tax rate on personal transactions in digital assets of up to 20% and to abolish taxes on profits received from cryptocurrency transactions.