You read about parts of it and think to yourself "wow, this really took some genius to pull off" then a minute later read something else, like them using Bitcoin, that then has you saying "how could they be so stupid?".
They used the same Bitcoin wallet to fund multiple parts of the operation - meaning once the FBI found that 1 wallet address, they had a record of everything right in front of them. It's like the evidence was handed over to investigators on a silver platter.
The changes had been mooted for some time, and the country’s finance minister Taro Aso hinted at the possibility of tax reform in a speech made last month. Cryptocurrency-related earnings will continue to be classified as “miscellaneous income,” however, despite speculation that the NTA would change the way crypto investors were required to file their earnings.
Per media outlet Sankei Biz, the NTA consulted with the regulatory Financial Services Agency, the Japan Blockchain Association and Japanese cryptocurrency-related businesses on its new system, which makes use of software that automatically calculates earnings and losses.
Crypto Markets Keep Building Momentum, Bitcoin Inches Towards $6,400
Bitcoin (BTC) has gone above the $6,300 mark, up about 1.5 percent over the past 24 hours, trading at $6,354 at press time. The top cryptocurrency continues its growth after dipping to an intraweek low of $6,180 on Friday.
Ethereum (ETH) is up 3.4 percent on the day, trading at $448 at press time. The coin has gone as low as $424 during the week, and it is still down around 10 percent over the past 30 days.
Ethereum price chart
Ethereum price chart. Source: Cointelegraph Ethereum Price Index
After plunging to $242 billion on July 13, total market capitalization of all cryptocurrencies is back to its average monthly levels, currently just below $256 billion.
Total market capitalization chart
Total market capitalization chart. Source: Coinmarketcap
Stellar (XLM) is currently the biggest winner among the top ten coins by market cap, up 6.1 percent and trading at around $0.218 at press time. XLM is also the only coin among the top ten that has seen gains over the week, amounting to about 3.3 percent.
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