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Crypto

Japan pushes bill to classify cryptocurrencies as financial products, cuts tax rate

Japan has approved a bill to amend the Financial Instruments and Exchange Act to classify cryptocurrencies as financial products. The country also introduced a new tax system that would replace a top progressive rate of 55 percent on crypto gains with a single 20 percent rate. The proposal would apply stock-market insider-trading rules to crypto trading and require issuers to disclose information at least once a year. It is expected to take effect in fiscal 2027 if passed in the current parliamentary session.

AI & Enterprise

Japan seen listing crypto ETFs by 2028; SBI and Nomura preparing

Japan is expected to introduce cryptocurrency exchange-traded funds by 2028, CoinDesk reported on Jan. 26, citing the Nikkei newspaper. The Financial Services Agency plans to allow cryptocurrencies as eligible ETF assets under the Investment Trust Act. Experts expect Japan’s crypto ETF market to grow to 1 trillion yen. SBI Holdings has applied for a dual-asset ETF combining bitcoin and XRP, while Nomura Holdings has shown interest.