According to Coinpost, the outline of the tax reform for fiscal year 2025 was finalized at the plenary meeting of the Taxation Committee and Taxation Research Committee of the Liberal Democratic Party and the Komeito Party of Japan. It is currently in the "review stage" and 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 has determined that the deduction amount will be increased to 1.23 million yen. Japan's current tax rate on crypto assets is as high as 55%, which is much higher than other countries, resulting in insufficient competitiveness in the industry.