Japan's Financial Services Agency (FSA) has proposed a tax reform for the fiscal year 2025, aiming to reduce cryptocurrency tax rates. The FSA suggests that cryptocurrencies should be treated as traditional financial assets, available for public investment, and would lower the tax burden on crypto transactions. Currently, crypto profits in Japan are taxed as miscellaneous income, with rates ranging between 15% to 55%. The FSA's proposal seeks to align crypto taxation with other financial assets, potentially easing the tax burden on investors and encouraging broader adoption of digital assets in Japan.