Jinse Finance reported that the Japan Blockchain Association (JBA), an advocate of the Japanese cryptocurrency industry and a non-governmental lobbying group, submitted a formal request to the country’s government, emphasizing three main measures to reduce the financial burden of cryptocurrency holders. It is an application to abolish the year-end unrealized gains tax on companies holding crypto assets. Unrealized profits refer to profits that have occurred on the book but related transactions have not yet been completed. JBA seeks to remove tax on unrealized gains from token issuance by third parties. The second request involves the taxation method of personal encrypted asset trading profits. JBA proposes to change this method from the current comprehensive tax to self-assessment itemized tax, with a flat tax rate of 20%. In addition, it also proposes a three-year period to deduct The loss of digital asset value depreciation. Third, the JBA seeks to abolish income tax on profits generated by individuals each time they exchange crypto assets.