TechFlow news, on March 2, according to Cryptopolitan, Japanese Finance Minister Katsunobu Kato publicly confirmed during a plenary session of the House of Representatives Budget Committee that imposing an 110% tax rate on crypto assets such as Bitcoin "is possible" under specific circumstances.
He elaborated: "Paying this income and inheritance tax would have negative implications. However, this only applies in cases where the selling price is extremely high (compared to the acquisition price)." In other words, one must make substantial profits from cryptocurrencies to fall into the highest tax bracket where the 110% rate applies.
He illustrated this with examples: when a cryptocurrency acquired for 1 billion JPY increases in value to over 6.5 billion JPY, or when a crypto asset purchased for 20 million JPY grows 100-fold to 2 billion JPY, such situations could trigger this tax scenario.
