Japan is actively pushing to reclassify cryptocurrencies as financial instruments

BlockBeats News, June 11 — According to market reports, Japan is reclassifying cryptocurrencies as financial instruments under the Financial Instruments and Exchange Act, aligning them with the framework for stocks and bonds. The House of Representatives passed the bill today. It reduces the tax rate on cryptocurrency gains from a maximum of 55% (miscellaneous income) to a unified 20% capital gains tax rate and opens the door for cryptocurrency ETFs, with related regulations coming into effect in 2027.
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