Analyst Willy Woo: Japan's classification of Bitcoin as a financial product will stimulate buying.

18j yang lalu

regarding "Japan classifying Bitcoin as a financial product this year," crypto analyst Willy Woo commented, "The Japanese will be more motivated to buy Bitcoin. Classifying Bitcoin as a financial product means that the tax rate on Bitcoin earnings (or trading) is 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 compared to self-custody of Bitcoin. About 110 cryptocurrencies are also included, and staking income is taxed at the marginal tax rate."
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