bitFlyer Launches 'Asset Lock Service' for Corporations, Addressing Exclusion from Year-End Market Value Taxation

Cryptocurrency exchange bitFlyer announced on November 27 that it has started offering an 'Asset Lock Service' targeted at domestic corporations.

The service aims to meet the requirements for exclusion from 'year-end market value taxation' in corporate tax by restricting the transfer of cryptocurrency assets for a set period. If the exclusion is granted, taxation on unrealized gains at the fiscal year-end can be avoided, deferring taxes until the assets are sold.

What is Year-End Market Value Taxation?

This system taxes corporations on the market value of their cryptocurrency holdings at the end of the fiscal year, applying to unrealized gains. Even if the assets are not sold, the increase in value is taxable, which poses a significant burden for corporations aiming for long-term holdings...