The Japan Blockchain Association (JBA) demands that the tax system be compatible with cryptocurrencies. The current system hinders the growth of web3 activities in Japan. JBA wants taxes on personal transactions to be reduced to 20 percent and profits from crypto transactions are not taxed. They believe the changes will increase investment. They also think that the fact that companies don't have to sell their tokens to pay taxes will lower the barrier to entry for web3 businesses. JBA also seeks the removal of year-end unrealized profit taxation on tokens issued by third parties. Prime Minister Fumio Kishida also stated that they want to promote web3 and contribute to social change.


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