A Japanese court sentenced a company director Tuesday to a one-year suspended prison sentence for using cryptocurrencies to evade income taxes in a case that could set a precedent for future rulings.
The Kanazawa District Court sentenced Shuuji Matsuda to one year in prison, suspended for three years, and ordered him to pay an 18 million yen fine ($164,000) for evading tax on income gained in trading bitcoin. Ryosei Wakashima, a court official, confirmed the sentencing details in a phone interview. Prosecutors had demanded the one-year prison sentence and a fine of 22 million yen at a March 9 hearing, ...
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