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Japan Moves Closer to Easing Tax on Corporate Crypto Holdings

Japan’s ruling political party agreed to ease corporate tax rules for virtual currencies, signaling support for an industry reeling from the meltdown of Sam Bankman-Fried’s crypto empire. 

The Liberal Democratic Party’s tax committee on Thursday approved a proposal to exempt companies from paying levies for paper gains on crypto coins that they hold after issuing them, according to a party politician.