Japan May Unify Crypto Tax Rate

Vice Prime Minister of Japan believes that crypto tax size should not differ from that established for exchanges and currency markets operations
26 June 2018   649

Vice Prime Minister and Minister of Finance of Japan Taro Aso proposed to change the regime of taxation of profits from operations with cryptocurrency, Bitcoin.com reports.

In February of this year, the Japanese authorities established for cryprocurrency traders income tax on a progressive scale in the range of rates from 15% to 55%. At the same time, the National Tax Agency classified revenue from operations with digital money as "miscellaneous income". Also, the agency obliged investors to file annual tax returns.

Yesterday, on June 25, Taro Aso proposed to the Upper House of the Budget Committee to make a single taxation rate for cryptocurrency transactions. According to him, its size should not differ from stock exange tax which currently stands at about 20%.

Soon after the changes in the tax legislation on Change. org, a petition appeared asking to make the tax rate for operations with crypto-active assets in Japan the same as on the stock market. The petition was signed by 11,786 people.

According to the results of the last year in Japan, 331 payers of taxes with a cumulative income of 100 million yen (approximately $ 914 thousand) were declared by the crypto currency.

Ledger Team to Find Issue in New Nano S Software

Last update's security improvements have affected the amount of device memory
15 February 2019   114

Ledger hardware wallet developers stated that an unforeseen problem was found in software version 1.5.5 for the Nano S model. Improvements in the security context have affected the amount of device memory.

When planning for this update we didn’t anticipate the impact it would have on Ledger Nano S capacity. This was not planned obsolescence, simply put, we messed up. We apologize and we’re committed to making it right.

Ledger Team

The project team apologized for the incident and promised to fix the problem during the second quarter of 2019.

The project also announced the addition of Nano S support in the Ledger Live mobile app on Android.

Earlier, researchers at Wallet.fail discovered a number of vulnerabilities in the Trezor and Ledger hardware cryptocurrency wallets. As a result, they were able to conduct a series of successful attacks on wallets during the Chaos Communication Congress in Leipzig.