Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Japan's DPP leader proposes 20% crypto tax cut if elected

Japan's DPP leader proposes 20% crypto tax cut if elected

GrafaGrafa2024/10/21 07:05
By:Mahathir Bayena

Yuichiro Tamaki, the leader of Japan’s Democratic Party for the People (DPP), has pledged to reduce taxes on cryptocurrency gains to 20% if his party wins the upcoming election. 

This tax reduction would bring crypto profits in line with stock market taxes, which are currently taxed at the same rate. 

In a recent post on X (formerly Twitter), Tamaki stated, “If you think crypto assets should be taxed separately at 20% instead of treated as miscellaneous income, please vote for the Democratic Party for the People.” 

Under his proposed plan, exchanging one crypto asset for another would not trigger a taxable event. 

Despite the promise, the DPP faces an uphill battle, as it currently holds only 7 out of 465 seats in Japan’s House of Representatives. 

According to a recent poll by the local outlet Mainichi, the party is expected to increase its seat count but still holds a slim chance of securing a majority. 

Tamaki also emphasized his vision of turning Japan into a leader in the Web3 industry, stating, "We want to make Japan a strong nation in the Web3 business." 

The upcoming election on October 27 will be crucial for his party's plan, which also includes addressing inflation and increasing take-home pay for citizens. 

Currently, crypto profits in Japan are taxed as miscellaneous income, with rates ranging between 15% and 55%, depending on personal income. 

Corporate holders of crypto are subject to a flat 30% tax, regardless of whether they have sold the assets. 

In comparison, stock market earnings face a maximum tax rate of 20%. 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!

Bitget Announcement2025/09/12 07:46

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

New spot margin trading pair — LINEA/USDT!

Bitget Announcement2025/09/11 10:04