Golden Finance reports that Japan, once one of the largest cryptocurrency markets in the world, has seen its market dominance gradually weaken after significant hacking incidents like Mt. Gox and Coincheck. Nevertheless, Japan's cryptocurrency market still holds immense potential, with the total scale of personal financial assets estimated at about 200 trillion yen, approximately 1.35 trillion USD. However, high tax rates and complex rules for calculating cryptocurrency asset losses pose significant investment barriers. The election on July 20 could fundamentally reshape Japan's national governance structure, marking a key moment for the development of cryptocurrency policy. Therefore, as the ruling coalition struggles with tax reform, the opposition party is rapidly gaining momentum. The Japanese cryptocurrency industry is closely monitoring potential changes to the classification system for cryptocurrency taxation. Notably, the opposition party advocates for a separate taxation system to replace the current 'miscellaneous income' rule.

#BTC