According to Odaily Planet Daily, Japanese Prime Minister Shigeru Ishiba expressed a cautious attitude towards the application of a separate 20% tax rule on crypto assets during a House of Representatives meeting, stating that careful consideration is needed regarding the public's understanding of self-assessment taxes.
National Democratic Party member Tetsu Asano pointed out that Japan's tax rate of up to 55% on crypto assets hinders the retention of Web3 companies and individual assets, suggesting tax reforms to promote business and asset repatriation.
Shigeru Ishiba emphasized the need to improve the trading environment for crypto asset ETFs to address the growing demand from institutional investors for Bitcoin ETFs and enhance the competitiveness of the Japanese market.
