A bill for a Japan spot Bitcoin ETF passed a major committee in the country’s upper house on July 15, and after the release of U.S. inflation data that came in below expectations, Bitcoin and Ethereum prices immediately rose. The proposal would classify cryptocurrencies as financial instruments under the Financial Instruments and Trading Act, while cutting the cryptocurrency tax rate to a uniform 20%. If the proposal is passed and becomes law, the framework could allow spot Bitcoin ETFs to be listed on the Tokyo Stock Exchange in 2027.

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