According to CoinDesk, the notice issued by the National Tax Agency of Japan re-clarifies "how to tax crypto issuers who hold their own tokens", in which token issuers will no longer need to pay about 35% capital gains tax for unrealized gains, and the tax exemption applies to unrealized gains generated by continuously holding applicable cryptocurrencies or taking certain technical measures to prevent them from being transferred to others since the date of issuance. In addition, the Japanese industry association is also seeking other tax reforms, including taxing crypto gains at the same rate as stocks, and taxing individuals only when crypto gains are converted into fiat currency.