Yoshihide Suga has made few public statements on digital currency, but his stance on taxing crypto assets may prove to be the most insightful.
The 71-year-old is set to become the country’s new prime minister after being voted in as the leader of Japan’s Liberal Democratic Party on Sept. 14. The country’s National Diet will vote the next PM in on Wednesday following Shinzo Abe’s announcement in August — where he stated that he was resigning due to health reasons.
Suga served as Chief Cabinet Secretary during the downfall of Japan-based crypto exchange Mt. Gox and the $500 million hack of the Coincheck exchange in 2018. He has differed from Abe in calling tax increases “inevitable” as recently as last week, though he later walked back some of these remarks. The future PM once also stated that Bitcoin (BTC) transactions should be “subject to taxation.”
“As a matter of common sense, if there are transactions and subsequent gains, it