Derived from DL News, Japan’s Financial Services Agency (FSA) is reportedly planning to reclassify 105 cryptocurrencies, including Bitcoin and Ethereum, as financial products under the Financial Products Transaction Act. This move could lead to a reduction in crypto tax rates for traders, aligning them with stock trading rules. Currently, Japanese residents face a 55% tax on crypto gains, but the proposed change would apply a flat 20% rate. The FSA is also considering new insider trading restrictions for the domestic crypto industry.
Japan's FSA to Reclassify 105 Cryptocurrencies as Financial Products
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