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Japan is set to review its cryptocurrency regulations, with the Financial Services Agency (FSA) leading the assessment. The review aims to evaluate the effectiveness of the current approach under the payments act and may lead to significant changes, including potentially lower taxes on digital assets. Major traditional companies such as NTT and SBI have entered the crypto space, indicating the growing impact of Japan's clear and well-defined crypto regulations. Bloomberg reported that the review could also reclassify cryptocurrencies as financial instruments under investment law, which would strengthen protections and allow domestic funds to invest in tokens.
Japan to potentially lower capital gains tax on crypto in regulatory review via @Saajthebard https://t.co/oTuPRsySX3
JAPAN SET TO REVAMP CRYPTO REGULATIONS Japan plans to review its crypto regulations, aiming to assess the effectiveness of its current approach under the payments act, according to Bloomberg. This review could lead to a reclassification of crypto as a financial instrument,… https://t.co/QLXddESfoh
JAPAN PLANS MAJOR OVERHAUL OF CRYPTO RULES Japan's about to shake things up in the crypto scene as the Financial Services Agency reviews its rules for digital assets under the payments act! They’re asking if it’s still working or if crypto needs a reclass to a financial… https://t.co/jSMnh5vTbd
