Japan Plans Review to Allow Cryptocurrency ETFs and Cut Crypto Trading Tax to 20%

Japan will move ahead with a review aimed at allowing cryptocurrency exchange-traded funds (ETFs) and reducing the crypto trading tax rate to 20%, according to Satsuki Katayama. According to NS3.AI, the Japanese government plans to reclassify virtual assets as financial products by amending the Financial Instruments and Exchange Act. The proposed change would provide a legal basis for crypto ETFs in Japan. SBI Securities and Rakuten Securities are expected to begin offering crypto ETFs once the law is amended.