Despite global changes and growing interest in cryptocurrency ETFs, Japan adheres to strict tax and regulatory requirements, which slows down the adoption of such products. Unlike the United States and Hong Kong, where bitcoin and ether ETFs have already been approved, Japan continues to be cautious about the volatility of crypto assets. The tax rates on income from cryptocurrencies reach 55%, which is significantly higher than the rates on traditional assets. This creates barriers to the growth of the cryptocurrency market in the country.