**Japan’s DPP Proposes Crypto Tax Cut Amid Election Campaign**

Yuichiro Tamaki, leader of Japan’s Democratic Party for the People (DPP), has unveiled a plan to slash crypto tax rates to 20% if elected. Currently, crypto gains in Japan are taxed as high as 55% for high earners, compared to a 20% rate on stock market profits. Tamaki’s proposal aims to align crypto taxes with stock market rates and eliminate tax events when exchanging one crypto for another.

Despite the ambitious plan, the DPP holds only 7 out of 465 seats in Japan’s House of Representatives, making the proposal's implementation uncertain. The upcoming election on Oct. 27 will determine if Tamaki’s vision gains traction. The DPP also aims to boost take-home pay to combat inflation and position Japan as a leader in the Web3 space.