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Good catch. The original article linked to is by @Newsbyatlas It seems something may have gotten lost in translation. Thanks for pointing it out.

Actually the CGT on crypto in Japan isn't a flat 55%, that's just the max income tax (crypto profit is categorised as income). Still shit though.

True. A lot of nuance, especially concerning taxes, inevitably gets lost when trying to summarize stories like this in a few sentences.

There's a flat 20% capital gains tax on stocks, so the current proposal is to make crypto sales the same, which shouldnt be too difficult. They're taking comments from the public until the end of the month then it will move forward. If it passes it will go into effect in a year or two. This is still moving faster than I expected. The proposal is coming from the ruling party, so there's a good chance it will pass. If you guys ever need to confirm any Japan news, feel free to reach out.