$ETH
Japan is even looking at stablecoins for tax refunds now
So if you go shopping in Tokyo in the future,
will your refund go straight into your wallet?
Holy crap
Guys,
Japan’s pulled another fucking twist this time
Whenever we talked about stablecoins before,
we always thought of exchanges, deposits and withdrawals, transfers, and stuff like that
But now,
Japan is looking into a new use case:
refunding consumption tax to foreign tourists
On October 21,
Japan’s Minister of Land, Infrastructure, Transport and Tourism, Tatsuhiro Ibari, said
that the consumption tax refund system for visitors to Japan
would explore options including the use of stablecoins
Why is this worth paying attention to?
Because starting November 1,
Japan’s tax-free shopping system is changing to a pay-first, refund-after-departure verification model
Put simply,
in the future, eligible tourists shopping at duty-free stores
will first pay the tax-inclusive price
Then, when they leave the country, customs will confirm that the goods are indeed being taken out of Japan
and they’ll get the corresponding tax back
Credit card refunds might take a while
and cross-border transfers also come with fees and processing times
If, in the future, refunds really can be sent directly to tourists’ wallets
using regulated yen stablecoins,
that would cut out the middle steps
and get the money to them faster
For now, it’s only at the research stage
It’s not a regulation that’s already been implemented
Still, it’s a pretty interesting idea
If stablecoins can only be passed around within the crypto world,
then they’re just a trading tool
But if they can gradually be used in real-world scenarios like travel refunds and everyday payments,
that’s when they’ll truly be moving into the real economy
It’s unlikely to move the broader market in the short term
but it’s a positive sentiment signal
The market’s been really unstable these past couple of days
with all kinds of sudden wicks and moves that don’t follow the usual playbook
Guys,
take it easy
#日本国交相将研究稳定币退税
Japan is even looking at stablecoins for tax refunds now
So if you go shopping in Tokyo in the future,
will your refund go straight into your wallet?
Holy crap
Guys,
Japan’s pulled another fucking twist this time
Whenever we talked about stablecoins before,
we always thought of exchanges, deposits and withdrawals, transfers, and stuff like that
But now,
Japan is looking into a new use case:
refunding consumption tax to foreign tourists
On October 21,
Japan’s Minister of Land, Infrastructure, Transport and Tourism, Tatsuhiro Ibari, said
that the consumption tax refund system for visitors to Japan
would explore options including the use of stablecoins
Why is this worth paying attention to?
Because starting November 1,
Japan’s tax-free shopping system is changing to a pay-first, refund-after-departure verification model
Put simply,
in the future, eligible tourists shopping at duty-free stores
will first pay the tax-inclusive price
Then, when they leave the country, customs will confirm that the goods are indeed being taken out of Japan
and they’ll get the corresponding tax back
Credit card refunds might take a while
and cross-border transfers also come with fees and processing times
If, in the future, refunds really can be sent directly to tourists’ wallets
using regulated yen stablecoins,
that would cut out the middle steps
and get the money to them faster
For now, it’s only at the research stage
It’s not a regulation that’s already been implemented
Still, it’s a pretty interesting idea
If stablecoins can only be passed around within the crypto world,
then they’re just a trading tool
But if they can gradually be used in real-world scenarios like travel refunds and everyday payments,
that’s when they’ll truly be moving into the real economy
It’s unlikely to move the broader market in the short term
but it’s a positive sentiment signal
The market’s been really unstable these past couple of days
with all kinds of sudden wicks and moves that don’t follow the usual playbook
Guys,
take it easy
#日本国交相将研究稳定币退税