Japan reclassifies crypto as a financial asset, paves way for tax cuts
Lawmakers said crypto has outgrown its role as a payment method and requires rules designed for investment products.
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Summary
- Japan reclassified cryptocurrencies as financial instruments, shifting them from a payments-focused regime to an investment framework under amended financial and payments laws set to take effect in 2027.
- The legislation paves the way for potential spot bitcoin ETFs, increases penalties for unregistered crypto operators, and imposes stricter insider-trading, disclosure and investor-protection rules on issuers and exchanges.
- Lawmakers also approved a plan to cut the top tax rate on crypto income from as high as 55% to a flat 20% starting in 2028.
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
