#美国加密货币监管 Looking back at history, regulatory reforms are always accompanied by market shifts. Japan’s recent move to lower the cryptocurrency profit tax to 20% reminds me of their pioneering legislation in 2017 that recognized Bitcoin as legal tender. That sparked worldwide attention and injected confidence into the crypto industry’s development. Today, Japan is once again at the forefront of policy. Aligning crypto tax rates with those of stocks and other traditional financial products is undoubtedly another affirmation of digital assets. This tax reform not only can stimulate market vitality but also attract more investors and innovators. However, we must also remain cautious of excessive optimism. The lesson from 2018 when Coincheck was hacked and Japanese regulators suddenly tightened their stance is still fresh in our minds. Therefore, supporting investor protection measures is equally crucial. Banning insider trading and enhancing disclosure requirements are all aimed at building a healthier, more transparent ecosystem. Looking globally, attitudes toward cryptocurrency regulation vary greatly. The tough stance of the US SEC contrasts sharply with Japan’s open policy. This makes me wonder: how can we strike a balance between protecting innovation and preventing risks? Perhaps Japan’s recent attempt can serve as a reference for other countries. After all, history shows us that over-regulation often stifles innovation, while laissez-faire approaches can lead to disasters. Finding a moderate path is the true essence of regulation. Let’s wait and see whether this policy adjustment can bring a new spring for Japan and the global crypto market.