BUSINESSBITCOIN MAGAZINE
Japan’s Landmark Vote Reclassifies Bitcoin And Crypto As Financial Assets
Japan’s parliament reclassified cryptocurrency as a financial asset under the Financial Instruments and Exchange Act (FIEA), shifting it from the Payment Services Act. The change, effective by 2027, introduces stricter regulations, aligns crypto with securities oversight, and reduces the top tax rate on crypto gains from 55% to 20% starting in 2028. The reclassification also enables the creation of regulated bitcoin ETFs and enhances market surveillance.
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