TechFlow news, October 21 — Yuichiro Tamaki, leader of Japan's Democratic Party, proposed a cryptocurrency tax plan that would reduce taxes on crypto gains to 20% if he is elected.
In a post on X, Tamaki stated: "If you believe crypto assets should be taxed separately at a 20% rate instead of being treated as miscellaneous income, vote for the People's Democratic Party."
However, the proposal remains distant from realization, as the Democratic Party currently holds only 7 out of 465 seats in Japan's House of Representatives.
Under Tamaki's plan, exchanging one cryptocurrency for another would not trigger any taxable event.
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