Japan plans to include cryptocurrency assets in the regulatory framework of the Financial Instruments and Exchange Act

According to reports from Wu, on June 24, the Japanese Financial Services Agency issued a document planning to include cryptocurrency assets within the regulatory framework of the Financial Instruments and Exchange Act. Related topics will be submitted to the Financial System Council for deliberation on the 25th. If the reforms proceed, Bitcoin ETFs will be established in Japan and will be subject to a declaration separation tax system of about 20%, replacing the current maximum comprehensive tax rate of up to 55%.