Based on TechFlow, on November 16, Japan's Financial Services Agency (FSA) is reportedly planning to reclassify 105 cryptocurrencies, including Bitcoin and Ethereum, as financial products under the Financial Instruments and Exchange Act. Currently, residents must report cryptocurrency gains as miscellaneous income, subject to a maximum tax rate of 55%. The reclassification would change the tax treatment to capital gains, with a unified 20% rate, aligning it with stock trading. The proposal is expected to be included in the budget plan for early 2026.
Japan's FSA Plans to Reclassify 105 Cryptocurrencies as Financial Products, Tax Rate to Drop to 20%
TechFlowShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.