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Delayed Tax Reforms Impacting Japanese Crypto Traders
Traders anticipated tax reforms for crypto to begin in January 2027, but concerns have arisen over potential delays to 2028. SBI CEO Tomoya Asakura criticized the slow progress, noting Japan's potential lag behind other regions. Currently, crypto traders face up to 55% tax on profits without loss offsets, unlike stock traders. The Financial Services Agency aims to change this by reclassifying cryptocurrencies as investment vehicles, allowing a flat 20% capital gains tax. Legal amendments are expected in early 2026, but implementation may take an additional year, affecting Japan's crypto market development.