Citing Cryptonewsland, Japan’s Financial Services Agency (FSA) plans to reclassify 105 digital assets, including Bitcoin and Ethereum, as financial products under the Financial Instruments and Exchange Act. The move aims to introduce a flat 20% tax on gains from these assets, replacing the current variable tax rates that can reach 55%. The FSA also plans to strengthen transparency requirements for exchanges, mandating full disclosure of token details and risks. The amendment bill is expected to be submitted to the National Diet by 2026, with potential delays pushing the tax reform into next year’s budget. The overhaul includes measures to prevent insider trading and improve oversight across all tokens, with a stablecoin pilot underway involving major banks.
Japan to Reclassify 105 Crypto Assets as Financial Products, Introduce 20% Flat Tax
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