Sanae Takaichi's Government Passes Bill To Cut Taxes On Bitcoin, Ethereum Taxes In Japan From 55% To 20%

Japan’s lower house passed a bill on Thursday that puts cryptocurrency in the same legal category as stocks and other financial instruments. Big Catalyst For Crypto In Japan The bill advanced after receiving approval from the House of Representatives’ Finance and Financial Affairs Committee, according to Parliament records.

If the upper house, i.e., the House of Councillors, approves it, the legislation is expected to take effect next year. Under the new proposal, cryptocurrency assets would be defined as financial instruments and fall under a regulatory regime akin to that for stocks. “It is necessary to regulate cryptocurrency trading as a financial instrument transaction rather than as a service related to fund settlement,” the bill read. “Accordingly, it is necessary to improve the ......