Wu said that Japan is advancing the transfer of cryptocurrency trading regulation from the "Funds Settlement Act" to the "Financial Instruments and Exchange Act" framework, reclassifying cryptocurrencies as financial instruments, the same as stocks and bonds. According to the Senate bill information in Japan, the relevant amendment was passed by the House of Representatives Financial and Financial Committee on June 10, and still needs to complete subsequent parliamentary procedures. The plan is to change the cryptocurrency income tax from a maximum of 55% comprehensive tax to a 20% capital gains tax rate, and to reserve space for the establishment of cryptocurrency ETFs.