The Japanese government has approved a tax reform benefiting companies holding cryptocurrencies.

Under the new rules, corporations will only be taxed on profits from selling crypto, not the year-end market value of their holdings.

The reform aims to reduce tax burden on corporations and stimulate domestic entrepreneurship.

The reform is expected to bring more institutional investors to Japan's crypto market.

The proposed bill will be submitted to the National Diet in January for approval and is set to take effect on April 1, 2024.

This move is seen as a crucial step in economic reform and a departure from traditional practice in Japan.