More than 300 cryptocurrency traders reported over ¥100 million in miscellaneous income in their 2017 tax returns as a result of trading bitcoin and other cryptocurrencies, according to data released last week by the National Tax Agency.

While 331 of them each reported miscellaneous income of over ¥100 million from cryptocurrency trading, netting the government billions of yen in new tax revenue, there is still widespread belief that many investors have yet to report their cryptocurrency investment earnings to authorities.

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