#美联储回购协议计划 Japan's tax reform for the 2026 fiscal year can be considered a significant policy adjustment for virtual currency market participants. The government officially classifies crypto assets as "financial products that contribute to the formation of national assets," and the underlying message of this statement is clear — the national stance on virtual currencies is shifting.

Specifically, at the operational level, the reform singles out three types of transactions: "spot trading," "derivative trading," and "ETFs," and incorporates them into a new taxation framework. In simple terms, the profits generated from these transactions will be taxed at the new rates, providing the market with clearer rules. This is at least helpful for traders who plan to establish a long-term presence in the crypto market.

However, not all virtual currency-related income will be subject to this new standard. Earnings from staking, lending, and NFT trading will temporarily continue to be taxed under the existing comprehensive taxation system. In other words, different types of participants within the ecosystem will face different tax treatments.

From a policy perspective, the Japanese government is clearly trying to strike a balance between "promoting industry development" and "effective regulation." A clearer tax environment can attract more compliant participants and also advance the formalization of virtual currencies. This is something that all participants in the Asia-Pacific crypto market should pay attention to.