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

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DustyAlpha
· 3h ago
It should have been changed earlier; the previous comprehensive taxation was too outrageous. Trading cryptocurrencies should be treated the same as stock trading.
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EbbShellLedger
· 3h ago
Under the framework of the Financial Instruments Trading Law, the entry barriers for institutions have been lowered, leading to more compliant players.
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PermissionedFury
· 3h ago
55% cut down to 20%, this tax rate directly benchmarks US stocks, Japanese retail investors can finally breathe a sigh of relief.
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