• Latest
  • Trending
Tax-Dodging Cardano (ADA) Traders Come Under Scrutiny in Japan

Tax-Dodging Cardano (ADA) Traders Come Under Scrutiny in Japan

October 3, 2021
Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

June 30, 2022

IamFuture launches the exclusive Web3 ecosystem that is built to master the cycles of the market.

June 30, 2022
Decline In Ethereum Futures On CME Suggests Institutional Investors Are Still Bearish

Decline In Ethereum Futures On CME Suggests Institutional Investors Are Still Bearish

June 30, 2022
NFTs to appear on Facebook, cross-post with Instagram as Meta Web3 expansion continues

NFTs to appear on Facebook, cross-post with Instagram as Meta Web3 expansion continues

June 30, 2022
Grayscale’s Bitcoin Fund Reaches Record Discount After SEC Snub

Grayscale’s Bitcoin Fund Reaches Record Discount After SEC Snub

June 30, 2022
Investors Are Counting On These Stocks To Pay Their High Yield Dividends | by Mark Hake | The Capital | Jun, 2022

Investors Are Counting On These Stocks To Pay Their High Yield Dividends | by Mark Hake | The Capital | Jun, 2022

June 30, 2022
Interlay (INTR) Trading Starts June 30 – Deposit Now

Interlay (INTR) Trading Starts June 30 – Deposit Now

June 30, 2022
Announcing the Relay VSCode extension | by Coinbase | Jun, 2022

Announcing the Relay VSCode extension | by Coinbase | Jun, 2022

June 30, 2022
Bitwells Exchange Launches 777 BTC Giveaway for Derivatives Traders

Bitwells Exchange Launches 777 BTC Giveaway for Derivatives Traders

June 30, 2022
  • Contact Us
  • Privacy Policy
Thursday, June 30, 2022
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto

Tax-Dodging Cardano (ADA) Traders Come Under Scrutiny in Japan

Automatic by Automatic
October 3, 2021
in Crypto, Top News
0
Tax-Dodging Cardano (ADA) Traders Come Under Scrutiny in Japan
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter


Alex Dovbnya

A slew of Japanese Cardano traders managed to bag big profits but failed to pay taxes

Related articles

Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

June 30, 2022

IamFuture launches the exclusive Web3 ecosystem that is built to master the cycles of the market.

June 30, 2022

A recent report by Japanese financial outlet Nikkei says that Japan’s tax collecting agencies have zeroed in on tax-dodging cryptocurrency traders.    

After a large-scale audit in the Kanto region and other parts of the country, it was discovered they had failed to pay 1.4 billion yen ($12.6 million).  

According to a person involved in the investigation, individuals from such cities as Saitama, Tochigi, Gunma, Niigata and Nagano mainly profited off of buying and selling Cardano. Tax authorities have identified 670,000 yen ($6 million) in underreported taxes.  

ADA traders were either not declaring their profits or were avoiding paying taxes by means of deception.   

According to a tax accountant quoted by Nikkei, many people have turned a profit due to Cardano’s rapid price surge in 2021.

Regional taxation bureaus have so far conducted six cryptocurrency-related audits. The one in the Kanto region has been monitoring ADA transactions for years, according to the report.

However, with the total transaction volume reaching 5 trillion yen ($39 billion) in May, this might sound like an increasingly arduous task.

Given that more than 90 percent of those who participated in Cardano’s initial coin offering (ICO) were from Japan, it’s not surprising that the popular cryptocurrency project often gets called the “Japanese Ethereum.”

Until recently, however, it was only possible to trade ADA on overseas exchanges, such as Binance, due to stringent regulations. As reported by U.Today, ADA became available for trading in Japan on the Bitpoint exchange in late August.



Source link

ShareTweetShareShare
Previous Post

At Least 6,000 Coinbase Accounts Exposed In Hack

Next Post

Bitcoin price surge to $49K prompts several altcoins to hit new all-time highs

Related Posts

Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

by Automatic
June 30, 2022
0

●Bitcoin (BTC): $18,928 −7.0% ●Ether (ETH): $1,020 −8.9% ●S&P 500 daily close: 3,785.38 −0.9% ●Gold: $1,808 per troy ounce −0.3%...

IamFuture launches the exclusive Web3 ecosystem that is built to master the cycles of the market.

by Automatic
June 30, 2022
0

AMSTERDAM, NORTH HOLLAND, THE NETHERLANDS, June 28, 2022 (GLOBE NEWSWIRE) — The international innovation team IamFuture is unfazed by the...

Decline In Ethereum Futures On CME Suggests Institutional Investors Are Still Bearish

Decline In Ethereum Futures On CME Suggests Institutional Investors Are Still Bearish

by Automatic
June 30, 2022
0

Institutional investors have been bearish toward Ethereum for a while now. There have been outflows rocking the digital asset until...

NFTs to appear on Facebook, cross-post with Instagram as Meta Web3 expansion continues

NFTs to appear on Facebook, cross-post with Instagram as Meta Web3 expansion continues

by Automatic
June 30, 2022
0

Facebook will support nonfungible tokens (NFTs) with a “digital collectibles” tab on creators’ timelines to display their work. Meta technical...

Grayscale’s Bitcoin Fund Reaches Record Discount After SEC Snub

Grayscale’s Bitcoin Fund Reaches Record Discount After SEC Snub

by Automatic
June 30, 2022
0

Alex Dovbnya Grayscale Bitcoin Fund's discount has hit a record at 35% Shares of Grayscale Bitcoin Trust (GBTC) started trading...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store

Top News

Starbucks joins NFT party, UK government seeks stablecoin regulations and Crypto Twitter rallies behind cancer fighter, Hodler’s Digest: Apr. 3-9

Katie Haun’s VC Firm Leads $11M Round for Web 3 Community Platform Highlight

SHIB to List on DeFi Exchange Parex Tomorrow

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT