According to Wu, the taxation committee of the Liberal Democratic Party and the Komeito Party of Japan has determined the outline of tax reform for fiscal year 2025, which is in the "review stage". It is expected to introduce a separate self-assessment tax of 20% for cryptocurrencies and introduce a profit and loss carry-forward system. The tax reform outline will also increase the deduction amount to 1.23 million yen. Currently, the tax rate on crypto assets in Japan is as high as 55%, which affects the competitiveness of the industry.