[SBI Executive: Japan's Crypto Tax Reform Progress is Slow, May Take Effect as Early as 2028] SBI Global Asset Management CEO Tomoya Asakura stated that Japan's crypto tax reform process is extremely slow, citing opinions from political figures that the reform might be delayed and could take effect as early as 2028. Asakura pointed out that if the reform is delayed, Japan will fall behind the U.S., as well as regions in Asia and the Middle East. Currently, Japan's maximum tax rate on crypto gains is as high as 55%. The Financial Services Agency (FSA) plans to adjust crypto assets to be subject to a separate tax rate of approximately 20%. Relevant legal amendments are expected to be submitted to the Diet in early 2026.