BCCC Forms Tax Panel for Stablecoin, DeFi Adoption

The Japan Blockchain Collaborative Consortium (BCCC) has established a tax policy working group to address tax issues hindering corporate adoption of digital assets, such as stablecoins and decentralized finance (DeFi).

The BCCC aims to reduce tax uncertainty for companies using digital assets in business operations by examining tax policies that could promote the broader use of blockchain technology.

The Tax Policy Working Group will focus on tax issues arising from payments, remittances, fundraising, and asset management involving digital assets. It will also discuss how gains and losses from DeFi and stablecoin transactions should be recognized, valued, and reported for tax purposes.