#加密货币监管 The Japanese government supports reducing the cryptocurrency profit tax rate to 20%, which is a noteworthy regulatory development. From an on-chain data analysis perspective, this move could stimulate an increase in cryptocurrency trading volume and holdings in the Japanese market. An influx of funds into Japanese exchanges is expected, especially from high-net-worth individual investors. At the same time, this may trigger other countries to follow suit, promoting the unification of global cryptocurrency tax policies. However, close attention should be paid to how investor protection measures are implemented and their actual impact on market liquidity. It is recommended to track on-chain data from major Japanese exchanges, monitor capital flows and large investor behaviors, and provide references for investment strategy adjustments.