Japan Plans to Incorporate Crypto Assets into the Financial Instruments and Exchange Act Regulatory Framework

According to reports, on June 24, the Financial Services Agency of Japan released a document planning to incorporate crypto assets into the regulatory framework of the Financial Instruments and Exchange Act. Related topics will be submitted to the Financial System Council for review on the 25th. If the reform proceeds, Bitcoin ETFs will be established in Japan and will be subject to a declaration separation tax system of about 20%, replacing the current maximum of 55% comprehensive taxation.