According to Odaily Planet Daily, Japanese Prime Minister Shigeru Ishiba said at a House of Representatives meeting that he was cautious about applying a 20% separate taxation rule to crypto assets and that the public's understanding of self-assessed taxes needed to be carefully considered.
Tetsu Asano, a member of the Democratic Party for the People, pointed out that Japan's 55% tax on crypto assets hinders the retention of Web3 companies and personal assets, and suggested tax reform to promote the repatriation of business and assets.
Shigeru Ishiba stressed the need to improve the trading environment for crypto asset ETFs to cope with the growing demand for Bitcoin ETFs from institutional investors and enhance the competitiveness of the Japanese market.