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Lawmaker Mitsuhiro Kishida Urges Overhaul of Japan’s Crypto Tax Rules

During a Diet debate on December 8, the Democratic Party legislator highlighted Web3 and decentralized technology as key drivers for industrial competitiveness despite Japan’s current 55% maximum tax rate.

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Terms & Concepts
  • Web3: A vision for a decentralized internet powered by blockchain technology, enabling greater user control and data ownership.
  • Decentralized Technology: Systems or networks that operate without a central authority, often supported by blockchain for transparency and security.
  • Diet: Japan’s national legislature, composed of the House of Representatives and the House of Councillors.