Japan’s Political Party Leader Pledges to Reduce Taxes on Crypto to 20%

Japan’s Democratic Party for the People (DPP) leader Yuichiro Tamaki has unveiled a plan to lower the tax on crypto profits to 20% in his recent policy statement leading up to the general election.

Tamaki urged voters to support the DPP and opt for a flat tax rate of 20% instead of treating crypto gains as miscellaneous income.

The party also proposed eliminating taxes for cryptocurrency-to-cryptocurrency exchanges, increasing the leverage limit from 2x to 10x, and introducing crypto ETFs.

In a post on X, Tamaki stated that Japan should aim to become a leading nation in the crypto industry through deregulation and tax reforms.