Zhao Changpeng comments on Japan's tax reform plan: The direction is correct, but the 20% tax rate is still not competitive.

Regarding Japan's proposed reduction of its cryptocurrency tax rate from 55% to 20%, Binance founder Changpeng Zhao commented, "This is a major step forward for Japan. Lowering 'fees' equals promoting economic growth." Furthermore, in response to the question of whether a 20% tax rate would truly make Japan competitive again, Zhao stated, "A 20% tax rate is still high, but the direction is correct. Many countries do not levy capital gains tax."