Japan Considers Regulatory Shift for Crypto Assets

According to PANews, Japan's Financial Services Agency announced plans to potentially shift the regulation of crypto assets from the Payment Services Act to the Financial Instruments and Exchange Act framework. If implemented, this change would classify crypto assets as financial products. Consequently, the tax system could transition from a maximum comprehensive tax rate of 55% to a separate tax rate of approximately 20%. Additionally, the move might lift the ban on Bitcoin ETFs, thereby improving the investment environment for investors source: https://www.binance.com/en/square/post/26044218072178?utm_source=BinanceNewsRSS