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

Cryptocurrency exchange bitFlyer announced on November 27 the launch of its 'Asset Lock Service' aimed at domestic corporations.

This service restricts the transfer of cryptocurrency assets for a set period, fulfilling the requirements for exclusion from 'fiscal year-end market value taxation' in corporate tax. If the exclusion is granted, taxation on unrealized gains as of the fiscal year-end can be avoided, and taxes are deferred until the assets are sold.

What is Fiscal 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 have not been sold. This poses a significant burden for corporations aiming for long-term holdings...