Democratic Party for the People (DPP) leader Yuichiro Tamaki outlined pledges for crypto tax reform in Japan on social media yesterday (JST).

Yuichiro Tamaki's Promises

Yuichiro Tamaki, leader of DPP, posted on X on October 21st (JST) his vision of crypto tax policy reform, urging voters to support these changes.

Key Points of the Proposal

The policy aims to promote the use of NFTs in governance, introduce a separate 20% taxation system for crypto (instead of the current 55%), allow for loss deductions, and exempt crypto-to-crypto transactions from taxation. Also, the proposals include raising allowable leverage rates and introducing cryptocurrency ETFs.

Public Reaction

Some users on the X platform expressed support for the reforms, despite the country's tough economic situation, mentioning that taxes in Japan make life difficult even for retirees.

Yuichiro Tamaki's plans have attracted attention from both supporters and skeptics, as Japan's tax burden continues to be a topic of discussion.