Group 1 - A Japanese financial industry chief has expressed frustration over potential delays in key tax reform measures for crypto traders, which may not take effect until 2028 [1] - The current tax laws require crypto traders to declare profits as income, facing tax rates up to 55%, without the ability to offset losses [4] - The Financial Services Agency (FSA) aims to create parity between crypto and stock traders by reclassifying cryptocurrencies as investment vehicles, allowing a flat 20% capital gains tax [5] Group 2 - The Japanese National Diet is expected to approve an amendment to bring cryptocurrencies under the Financial Instruments and Exchange Act in early 2026, with the new tax regime anticipated to take effect in January 2027 [6] - This delay in tax reform is seen as a setback for Japanese crypto investors who were looking forward to more favorable tax conditions [3] - SBI Global Asset Management, a major player in the financial sector, has indicated that delays in tax reform could hinder efforts to introduce web3 and next-generation finance [6]