Japanese Prime Minister Shigeru Ishiba is cautious about separate taxation of cryptocurrencies and approval of ETFs

Japanese Prime Minister Shigeru Ishiba recently expressed caution about applying a unified 20% separate taxation rule to crypto assets (virtual currencies) in a representative question at the plenary session of the House of Representatives, "Is it appropriate for the government to encourage investment in crypto assets with investor protection regulations such as stocks and investment trusts? Will the public understand the idea of ​​applying a separate self-assessment tax? There are several issues that need to be resolved. Careful consideration is needed." This was made in response to questions from Democratic Party for the People member Tetsu Asano, who asked several questions about crypto assets. These include, "Although the global market size of crypto assets is growing rapidly, Japan's current regulations that impose taxes of up to 55% are becoming an obstacle, and Web3 companies and personal assets are flowing out of the country." He also believes that tax reforms, such as separate taxation for self-assessment and loss carry-forward deductions, are necessary to promote business and encourage the repatriation of assets to Japan. It also pointed out that considering the growing demand for Bitcoin ETFs from institutional investors such as BlackRock, the largest asset management company in the United States, there is an urgent need to improve the trading environment for crypto asset ETFs. "We need to take measures such as implementing these reforms to cultivate the Japanese market and enhance competitiveness." Shigeru Ishiba said: "Whether crypto assets should be included in ETFs needs to be considered based on whether crypto assets are assets that need to be made easier for the public to invest." (CoinPost)