PANews reported on November 23 that, according to Coindesk, shares of Digital Asset Treasury (DAT), a Tokyo-listed company, continue to outperform Bitcoin due to Japan's different tax treatment for stocks and cryptocurrencies.
In Japan, cryptocurrency gains are considered miscellaneous income, combined with wages and other income, and taxed at progressive rates, with a maximum rate of 55%. These gains cannot be offset by losses from other sources, nor can they be carried forward to future years. Equity gains are entirely different. Equity gains are taxed separately at a rate of approximately 20%, losses can be carried forward, and the reporting requirements are simpler. This difference creates a clear financial incentive: directly holding Bitcoin can result in a high tax burden, while holding Bitcoin-linked stocks allows gains to remain in the lower-tax equity category.
However, with Japanese tax authorities considering revising tax policies for cryptocurrencies, DAT's appeal could soon diminish. If this happens, DAT, listed in Tokyo, will quickly lose its tax advantage and become less attractive.


The crypto exchange integrates Morpho lending into its app, letting USDC users tap DeFi yields of up to 10.8%. Coinbase is rolling out a new way for users to earn yields on their USDC holdings, marking one of the exchange’s first large-scale integrations with decentralized finance (DeFi) at a time of accelerating stablecoin adoption.The company announced Thursday that it is integrating the Morpho lending protocol, with vaults curated by DeFi advisory company Steakhouse Financial, directly into the Coinbase app. The move will allow users to lend USDC (USDC) without navigating third-party DeFi platforms or wallets.Coinbase already pays up to 4.5% APY in rewards for holding USDC on its platform. With the new DeFi lending option, however, users can tap into onchain markets and potentially earn yields of up to 10.8% as of Wednesday, according to Coinbase.Read more
