PANews reported on March 2 that according to Cryptopolitan, Japanese Finance Minister KATO Katsunobu mentioned the possibility of imposing a 110% tax rate on crypto assets at a meeting of the House of Representatives Budget Committee (inheritance tax + income tax + resident tax = 110%). He said that this situation may indeed exist under current laws and is "not limited to crypto assets." The tax rate "only applies to cases where profits are extremely high."