Japan Tax Agency Uncovers $1.56 Billion Undeclared Crypto Income in FY2024

Japan's National Tax Agency reported 613 on-site investigations into individual cryptocurrency transactions between July 2024 and June 2025, recovering about ¥4.6 billion, a 31.4% increase year-on-year. Enforcement focused on proper profit/loss calculation, complete recordkeeping, and accurate reporting of DeFi operations, airdrops, mining, and staking income. This reflects continued emphasis on crypto tax compliance following FY2024’s uncovering of $1.56 billion in undeclared income and $46 million in additional tax assessments.

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