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The Japanese House of Representatives passes a bill proposing to regulate cryptocurrencies under a stock-like framework and reduce the tax rate to 20%.

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ME News Report, June 11 (UTC+8), Japan's House of Representatives approved a bill on Thursday to reclassify cryptocurrencies as financial instruments, bringing them under the framework of the Financial Instruments and Exchange Act, applying the same rules as stocks and bonds. This move will reduce the cryptocurrency capital gains tax rate from the current maximum of 55% to a fixed rate of 20%, aligning it with stocks and bonds, and is expected to take effect in 2028. At the same time, restrictions on crypto insider trading will be strengthened, increasing the maximum penalty for unregistered crypto sellers from 3 years to 10 years. The new regulation will also open the door for crypto ETFs, with the Tokyo Stock Exchange operator expecting to list crypto-tracking ETFs as early as next year. The bill is expected to take effect next year after passing the Senate. Japanese Financial Services Agency officials stated that the goal is to create a sound trading environment to promote innovation. Stablecoins will continue to be regulated as payment services and will not be subject to the new rules. Analysts believe that the new regulation could trigger a reshuffle in Japan's crypto exchange industry, with about half of the exchanges potentially disappearing. (Source: PANews)
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