Reforma fiscal de criptomoedas no Japão adiada novamente? Só será implementada em 2028

【币界】Japan’s cryptocurrency tax reform has been further delayed. According to political sources, the tax reform originally scheduled for this year—changing cryptocurrency transactions from “miscellaneous income” to “separate declaration taxation”—will now only be officially implemented in January 2028.

This delay is indeed a bit surprising. The market had generally expected that next year the Diet would definitely amend the law to include cryptocurrencies within the regulatory framework of the Financial Instruments and Exchange Act, and the new tax system would also go live. Politicians explained that currently there is no reason to accelerate the process; the government is focusing on investor protection, and needs to see how the implementation of the Financial Instruments and Exchange Act goes before considering launching the new tax system. According to the normal process, this would be in January 2028.

This is a bit frustrating for investors. Japan’s current tax rate, although quite harsh—up to 55% (including local taxes)—would be much more palatable if it were changed to a unified 20% separate declaration tax. This model, inspired by stock investment tax systems, can significantly reduce the tax burden and also loosen the market. The industry and investors have been calling for this for a long time, and it seems we will have to wait another two or three years.