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Japan vs Seychelles

Crypto regulation comparison

← Back to map | Japan | Seychelles
Japan

Japan

Seychelles

Seychelles

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.

The VASP Act 2024 effective Sept 2024 establishes FSA as regulator for virtual asset service providers. Exchanges require licensing. Mining and mixer/tumbler services are prohibited in Seychelles.

Tax Type Income
Tax Type No tax
Tax Rate 15-55%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator FSA (Financial Services Agency), JVCEA
Regulator Financial Services Authority (FSA)
Stablecoin Rules 2022 stablecoin law requires issuers to be licensed banks, trust companies, or fund transfer agents
Stablecoin Rules Regulated under VASP Act 2024
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
  • VASP Act 2024 enacted Aug 30, effective Sept 1, 2024
  • FSA licenses and supervises all virtual asset service providers
  • Mining facilities and mixer/tumbler services prohibited
  • VASPs must maintain local office and resident director
  • Licensed IBC VASPs taxed at 1.5% on assessable income
Sources
Sources