Japan's DPP Leader Yuichiro Tamaki Vows to Cut Crypto Tax from 55% to 20% If Elected October 27

Oct 21, 2024, 10:00 AM

Yuichiro Tamaki, leader of Japan's Democratic Party for the People (DPP), has pledged to reduce the crypto gains tax to 20% and remove taxes on crypto-to-crypto exchanges if elected in the upcoming election on October 27. Currently, crypto profits in Japan are taxed at rates up to 55%. Tamaki aims to align the taxation of crypto gains with that of stock profits, include loss deductions, and implement broader crypto policy reforms. These measures are part of efforts to enhance Japan's position in the Web3 space and make Japan a global crypto hub.