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Bulgaria vs Japan

Crypto regulation comparison

← Back to map | Bulgaria | Japan
Bulgaria

Bulgaria

Japan

Japan

Legal
Legal

Cryptocurrency is legal in Bulgaria and subject to a flat 10% tax on capital gains, one of the lowest in the EU. Bulgaria adopted the EU's MiCA framework and requires crypto service providers to register. The country has a notable history with crypto due to a large government Bitcoin seizure in 2017.

Japan is one of the world's most comprehensively regulated crypto markets. The Payment Services Act and Financial Instruments and Exchange Act govern crypto exchanges and tokens. Japan classifies crypto as "crypto-assets" and taxes gains as miscellaneous income at rates up to 55%, though reforms to lower this rate are under active discussion.

Tax Type Capital gains
Tax Type Income
Tax Rate 10%
Tax Rate 15-55%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator NRA (National Revenue Agency), FSC (Financial Supervision Commission)
Regulator FSA (Financial Services Agency), JVCEA
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules 2022 stablecoin law requires issuers to be licensed banks, trust companies, or fund transfer agents
Key Points
  • Flat 10% personal income tax rate applies to crypto capital gains
  • VASPs must register with the NRA for AML compliance
  • MiCA framework applicable from December 2024
  • Bulgaria reportedly seized approximately 200,000 BTC in a 2017 crime bust (status debated)
  • No specific crypto legislation beyond EU directives and general tax law
Key Points
  • Crypto exchanges must register with the FSA under the Payment Services Act
  • Crypto gains taxed as miscellaneous income at up to 55% (national + local tax)
  • Japan's self-regulatory body JVCEA sets industry standards for exchanges
  • 2022 stablecoin legislation (revised Payment Services Act) regulates stablecoin issuance
  • Government considering tax reform to apply a flat 20% separate taxation on crypto gains
Sources
Sources