Japan's crypto tax reform could be postponed until 2028, according to SBI Global Asset Management CEO Tomoya Asakura. He criticized the slow progress of the reform, warning that Japan risks falling behind the U.S., Asia, and the Middle East in Web3 and financial innovation. Currently, crypto transactions in Japan are taxed as miscellaneous income with rates up to 55%, without the ability to carry forward or offset losses like stocks. The reform aims to classify crypto as investment assets with a 20% capital gains tax, initially expected by 2027, but now potentially delayed.