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Japan could be set to overhaul its crypto tax system – with opposition leaders joining a chorus of MPs and business leaders calling for a change in tax law to stop an “outflow” of crypto-related talent and convince Japanese crypto firms not to relocate overseas.

Tamaki wrote that there was a need to act now in order to “prevent the outflow of human resources and businesses overseas.” A number of MPs, including Shun Otokita of the Japan Innovation Party , have been urging Tokyo to modify its crypto tax laws for several years – while private sector groups have attempted to do likewise .