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Japan's Financial Services Agency Considers Including Cryptocurrency Assets in Financial Instruments and Exchange Act for Separate Taxation

Summary: According to CoinPost, Japan's Financial Services Agency released a document today announcing serious consideration of transferring cryptocurrency asset regulation from the Payment Services Act to the framework of the Financial Instruments and Exchange Act. If successful, cryptocurrency assets will be officially classified as financial products, with related tax systems expected to shift from a maximum ...

According to CoinPost, Japan's Financial Services Agency released a document today announcing serious consideration of transferring cryptocurrency asset regulation from the Payment Services Act to the framework of the Financial Instruments and Exchange Act. If successful, cryptocurrency assets will be officially classified as financial products, with related tax systems expected to shift from a maximum 55% comprehensive tax to around 20% separate taxation, and potentially lifting the ban on Bitcoin ETFs to improve investor access.

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Link: Japan's Financial Services Agency Considers Including Cryptocurrency Assets in Financial Instruments and Exchange Act for Separate Taxation [Copy]

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