The Upper House election in Japan could redefine the country’s cryptocurrency tax policy. If opposition parties succeed in reducing the maximum tax rate to 20%, it might open doors for increased investments in Bitcoin, significantly boosting the local crypto market.
Currently, crypto investments face a high maximum tax rate of 55%. Without reform, demand for Bitcoin investments may remain constrained. The market awaits the election outcome, which could impact tax classifications and barrier reductions for crypto investments.
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