Fumio Kishida, the prime minister of Japan since 2021, has said the government will be making efforts to promote Web3 services, including those dealing with
During Kishida’s time in office, crypto users in Japan have seen a number of developments in the space, from Mt. Gox moving forward on repayment procedures after years of legal delays to the reintroduction of crypto ATMs in the country. In August, two of the country’s crypto advocacy groups, the Japan Crypto-Asset Business Association and the Japan Crypto-Asset Exchange Association, called for a 20% separate tax on crypto earnings for individual investors — many currently face a crypto tax rate of up to 55%.
