How Japan’s crypto tax debate is powering a $33B investor comeback
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Key Takeaways What’s driving Japan’s renewed interest in crypto? Rising investor appetite, discussions on tax cuts for crypto gains, and hopes for easier trading rules have boosted confidence in Japan’s digital asset market. How big is Japan’s crypto market right now? Japanese investors’ crypto holdings reached a record ¥5 trillion ($33 billion) in July, with over 5 million users, which is about 4% of the population. While the U.S. tightened its grip on crypto regulation, Japan charted a different course defined by innovation and rising investor appetite. From launching new crypto products to expanding leveraged trading, Japanese exchanges and financial firms are seizing the moment amid growing optimism for regulatory relaxation. Japan’s crypto gains That said, Japanese investors’ crypto holdings have soared past a record ¥5 trillion ($33 billion) in July. It showed renewed confidence in digital assets despite past exchange hacks in 2014 and 2018. With discussions underway to ease taxes on crypto gains and loosen trading limits, Japan’s market appeared set for its boldest growth phase yet. Satoshi Hasuo, Representative Director and Executive Officer of exchange Coincheck, said, “There are around three times as many people with securities accounts as crypto accounts, so there’s still a considerable opportunity. Next, we have to think about how we’ll win these people over.” CJ Fong, Asia Pacific GM at GSR, also noted a surge in talks with Japanese exchanges and financial firms to boost digital asset liquidity. This growing activity signals Japan’s renewed drive to reclaim its spot as a leading crypto hub, fueled by global momentum under President Trump’s pro-crypto stance. Reiterating the same, Noriyuki Hirosue, CEO of exchange Bitbank, added, “The Trump administration has spurred the Japanese government and regulators into adopting a friendlier approach to crypto, so Japan doesn’t fall behind.” Rising crypto adoption in Japan In fact,…
