🇯🇵 Japan steps into the ring: proposes crypto ETF and tax cuts

Japan wants to play in the big leagues. The Financial Services Agency (FSA) proposed to reclassify cryptocurrencies as 'financial products' under the Financial Instruments and Exchange Act (FIEA), the same framework that regulates stocks and bonds.

The move? Open the door to crypto ETFs and replace the current progressive tax (of up to 55%) with a flat rate of 20%. This not only simplifies taxation but also makes investment more attractive for retail and institutional investors.

The proposal is part of the Japanese government's 'New Capitalism' plan, which aims to position the country as a center for financial innovation. With over 12 million active crypto accounts and an expanding ecosystem, Japan is ready to take the leap.

And you? Are you prepared for a world where cryptos are as common as stocks? Japan has already taken the first step.