Odaily Planet Daily News: Japanese Prime Minister Shigeru Ishiba recently expressed a cautious attitude towards the application of a unified 20% separate tax rule on crypto assets (virtual currencies) during a representative question at a full meeting of the House of Representatives. He stated, 'Is it appropriate for the government to encourage investment in crypto assets that have investor protection regulations, such as stocks and investment trusts? Will the public understand the idea of applying a separate self-assessment tax? There are several questions that need to be addressed. Careful consideration is required.' This was in response to a question from National Democratic Party member Tetsuya Asano, who raised several questions regarding crypto assets. Among them was, 'Although the global market size of crypto assets is rapidly growing, Japan's current taxation rate of up to 55% is becoming an obstacle, and Web3 companies and individual assets are flowing out of the country.' He also believes that tax reforms, such as implementing separate taxation for self-assessment and loss carryforward deductions, are necessary to promote business and encourage asset repatriation to Japan. He pointed out that in light of the growing demand from institutional investors like BlackRock, the largest asset management company in the U.S., for Bitcoin ETFs, there is an urgent need to improve the trading environment for crypto asset ETFs. 'We need to take measures such as implementing these reforms to nurture the Japanese market and enhance competitiveness.' Ishiba stated, 'Whether crypto assets should be included in ETFs needs to be considered based on whether these assets need to be made easier for the public to invest in.' (CoinPost)

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