Japan's Financial Services Agency (FSA) is proposing to regulate cryptocurrencies under the Financial Instruments and Exchange Act (FIEA). This move, reported by U.BLOCKCHAIN, signals a significant shift in Japan's approach to digital assets. The proposal is slated for review at the Financial System Council meeting on June 25th. If approved, it would bring cryptocurrencies under the same regulatory umbrella as traditional financial instruments like stocks. This change could pave the way for Bitcoin spot ETFs in Japan, offering investors a regulated avenue for exposure to Bitcoin. Furthermore, the FSA's proposal suggests a standardized 20% tax rate on cryptocurrency profits, aligning it with the tax treatment of stocks and simplifying the tax landscape for crypto investors. This regulatory clarity is expected to attract more institutional and retail investment into the Japanese cryptocurrency market. ```

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