Japan's Tax Commission is looking for ways to simplify the current tax filing system for cryptocurrencies in order to ensure investors accurately report their gains.
The commission, which guides policy on taxation and also advises the prime minister, held a general assembly meeting on Oct. 17 to discuss potential improvements to the process, according to regional news outlet Sankei.
The committee is reportedly planning a new system that would standardized the tax filing process and make it easier for taxpayers to calculate their profits on the sales of digital assets against both fiat currencies and other cryptocurrencies.