Japan is considering a significant tax change that could have a huge impact on cryptocurrencies like Bitcoin, Ethereum, and Solana. The current tax regime is stringent, with gains taxed at up to 55%. Lawmakers are now looking to cut that rate to 20%, similar to stocks, potentially sparking a new crypto boom.

With over 12.4 million Japanese residents holding or using cryptocurrency, the potential tax change could lead to a flood of investments in crypto assets. If implemented, it could result in increased participation in leading cryptocurrencies like Bitcoin and Ethereum, with major financial institutions exploring direct Bitcoin investments and custody services.

While the tax proposal may face hurdles, it could open up new opportunities for Japanese investors to enter the crypto market. If the tax cut is approved, it could lead to a surge in investment in leading crypto assets, providing a potential tailwind for investors globally. The change could align Bitcoin with stocks, making it an attractive long-term investment for Japanese investors.

The tax policy change has the potential to significantly impact the crypto market, especially in Japan. If the tax cut is approved, it could lead to increased investment in major cryptocurrencies like Bitcoin and Ethereum. Investors should keep an eye on developments in Japan as they could signal a shift in the crypto landscape.

Read more at Yahoo Finance: If This 1 Policy Changes, Bitcoin and Ethereum Will Soar