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Japan vs Lithuania

Crypto regulation comparison

← Back to map | Japan | Lithuania
Japan

Japan

Lithuania

Lithuania

Legal
Legal

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.

Cryptocurrency is legal and regulated in Lithuania. The Bank of Lithuania oversees VASPs under AML regulations and has been an early mover in crypto regulation within the EU. Lithuania attracted a large number of VASP registrations due to initially favorable conditions, though it tightened requirements significantly in 2022-2023. The MiCA framework now applies.

Tax Type Income
Tax Type Capital gains
Tax Rate 15-55%
Tax Rate 15%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FSA (Financial Services Agency), JVCEA
Regulator Bank of Lithuania (Lietuvos Bankas)
Stablecoin Rules 2022 stablecoin law requires issuers to be licensed banks, trust companies, or fund transfer agents
Stablecoin Rules Regulated under EU MiCA framework
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
Key Points
  • VASPs must register with the Bank of Lithuania under AML/CFT law
  • Capital gains from crypto taxed at 15% personal income tax rate
  • Lithuania became a major EU hub for crypto companies; over 500 VASPs registered by 2022
  • Tightened VASP requirements in 2022-2023, including local substance and capital requirements
  • MiCA transition underway from December 2024
Sources
Sources