The Financial Services Agency of Japan is discussing the handling of issues related to in-game virtual currencies

ChainCatcher News: At a meeting of the working group on the revision of its funding law, the Financial Services Agency of Japan discussed providing a more convenient mechanism for businesses to handle crypto assets (virtual currencies). Participants believed that reducing the burden on companies would encourage the participation of large domestic gaming companies and promote research and development in the related blockchain ecosystem. The meeting also mentioned that as the virtual currency market expands, discussions about exchange regulation and new rules are becoming more frequent.

Liberal Democratic Party Web3 project group leader, Member of Parliament Hirakawa, pointed out that unoptimized tax issues pose obstacles to the establishment of startups, leading to a drain of talented individuals and companies overseas.

The Financial Services Agency emphasized that tax reform has addressed the issue of direct taxation on spontaneous tokens, but challenges remain in auditing non-mainstream tokens.