I don't think 55% is what everyone would agree on ..since it's more than the income that they are earning !.
It's insane ..
I don't know who gave them this idea but I don't think anyone would accept it.
Government sometimes makes bad decisions and its not compulsory that we need to accept it..
I do think that people must stand against it.

Absolutely! There are tax slabs. Not everyone will have to pay 55% tax. Also the percentage of tax is on the profit amount and not on the entire holding. Only people with annual earnings of 40 million yen ($365,000) will have to pay this staggering amount. Otherwise the tax slab starts from 15% which is pretty manageable and lower than many other Asian countries. I feel sad for the rich investors though because 55% tax amount is just too high. But considering Japan is one of the most progressive nations of the world, will keep the door open for further discussion.

This is the first year for Japan to earn on crypto taxes. based on the collection and the feedback from the investors, they may alter the tax rate in future or even change the framework. No reason to panic just as now because Japan is the first country to legalize crypto so we better have some patience before shouting anything false.

Thats just terrible. In the Netherlands they are charging around 0.9% for amount till 100k and around 1.9% for amounts above that... i wonder where this is going

How does this compare to tax rates in other areas? I presume it's the same as I doubt the Japanese government is going to create extra tax burdens just for this. It looks like they certainly are expecting a nice windfall from a crypto explosion. That's a whole lot of tax waiting to be collected. Belarus, here they come.

It's still the early ohase of regulations so I think it will go down under 20% because let's be honest , 55% its insane and if may scare the investors and this might result in another crash of bitcoin price.

This is the first year for Japan to earn on crypto taxes. based on the collection and the feedback from the investors, they may alter the tax rate in future or even change the framework. No reason to panic just as now because Japan is the first country to legalize crypto so we better have some patience before shouting anything false. However, There are tax slabs. Not everyone will have to pay 55% tax. Also the percentage of tax is on the profit amount and not on the entire holding. Only people with annual earnings of 40 million yen ($365,000) will have to pay this staggering amount. Otherwise the tax slab starts from 15% which is pretty manageable and lower than many other Asian countries. I feel sad for the rich investors though because 55% tax amount is just too high. But considering Japan is one of the most progressive nations of the world, will keep the door open for further discussion.