Japan might be about to shake things up in a big way, as the Japanese Financial Services Agency, the FSA is seriously considering treating crypto like regular financial products, like stocks and bonds. What does this mean? Bitcoin spot ETFs are coming?
The new path
The FSA is doing a deep dive into the current rules and plans to announce some major changes by June 2025.
The goalis to make Japan a crypto-friendly country by lowering crypto transaction taxes from 55% to a much more reasonable 20%.
The FSA has assembled a team of experts who are meeting in secret, like some sort of financial Illuminati, to figure out how to integrate crypto assets into the Financial Instruments and Exchange Act.
They’re debating whether to include just the big players like Bitcoin and Ethereum or apply the new rules to all cryptos.
There are still concerns
Of course, not everyone is totally on board yet. Government officials are still being cautious, saying they need to carefully assess crypto ETFs before giving them the green light.
But with industry insiders pushing hard for these ETFs and even big names like SoftBank getting in on the crypto action, after they invested in a Texas-based crypto mining data center not so long ago, it feels like momentum is clearly building.
The SoftBank method
And speaking of SoftBank, they’re doing pretty well, thank you very much.
Their revenue and profit are up across the board, with a solid 7.4% net income growth in the nine months ending December 2024. Accepting and adopting crypto seem to be paying off.
If Japan pulls this off, approving Bitcoin spot ETFs and cutting taxes, it could become a major player in the global crypto game.
By creating clear rules and attracting both national and international investors, Japan could be at the forefront of crypto innovation.
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