[Japan Plans to Allow Banks to Invest in Crypto Assets and Reduce Crypto Tax Rate to 20%] The Financial Services Agency (FSA) of Japan recently announced a series of draft reforms related to cryptocurrencies, proposing to significantly lower the tax rate on cryptocurrency trading income from a maximum of 55% to 20%, and allow investors to carry forward losses from crypto assets to future years. Additionally, the reforms may include policy adjustments to permit banks to invest in crypto assets. These measures aim to promote the development of the cryptocurrency industry while enhancing Japan's competitiveness in the global crypto market.