Japan's Liberal Democratic Party plans to implement a crypto tax reform, reducing gains tax to 20%, allowing loss deductibility, and reclassifying crypto as a distinct asset class under the Financial Instruments and Exchange Act.
"japan's ruling Liberal Democratic Party has signaled that it will move ahead with a major crypto tax reform proposal... This proposal would slash the tax on crypto gains to 20% make losses taxdeductible and reclassify crypto as a distinct asset class subject to Japan's Financial Instruments and Exchange Act"