Token

Bitcoin

Giant

Read

<ul class="wp-block-list news-points">
 <li>Japan’s FSA is reviewing crypto regulations to assess investor protection.</li>
 <li>The review may reduce crypto tax rates from 55% to 20%.</li>
 <li>The initiative responds to industry calls for easing regulations that hinder innovation.</li>
</ul>
Japan will reevaluate its cryptocurrency regulations, potentially easing taxes on digital assets and opening the door for domestic investment funds focused on tokens.
According to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-30/japan-crypto-review-may-open-door-to-lower-taxes-dedicated-etfs" target="_blank" rel="noopener noreferrer nofollow">report</a>, the Financial Services Agency (FSA) will conduct a review in the coming months to assess whether the current regulatory framework, the Payment Services Act, is sufficient.
The FSA will examine whether existing rules, designed for payment functions, offer adequate investor protection, given that digital tokens are now primarily used for investment. This could lead to reclassifying cryptocurrencies under the Financial Instruments and Exchange Act, which governs financial securities.
Read also: <a href="https://coinedition.com/japanese-financial-giant-sbi-backs-metaplanets-bitcoin-push/" rel="noopener noreferrer nofollow">Japanese Financial Giant SBI Backs Metaplanet’s Bitcoin Push</a>
Market analyst Yuya Hasegawa of bitbank Inc. said this reclassification could bring “dramatic changes” to the sector.
<h2 class="wp-block-heading" id="h-lower-taxes-and-new-etfs-possible">Lowe…</h2>
The post <a href="https://coinedition.com/japan-could-ease-crypto-taxes-and-allow-token-etfs/" rel="noopener noreferrer nofollow">Japan Could Ease Crypto Taxes and Allow Token ETFs</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Japan Could Ease Crypto Taxes and Allow Token ETFs

Table of Contents

Coin Edition

Other articles published on Sep 30, 2024

Coinpedia Fintech News

Binance Launches Futures Trading for Contentos (COS) Today

Bybit Bolsters Compliance with Appointment of New Chief Legal & Compliance Officer (30 Sep)

Over $1 Billion in Bitcoin Spot ETFs, What Happened?

Russia Outpaces U.S. in Crypto Mining Growth, Says BitRiver CEO

NFT Sales Drop 20% in September Amid Growing Regulatory Scrutiny

Join our free newsletter for daily crypto updates!