The Japan Financial Services Agency is considering including encrypted assets in separate taxation under the Financial Instruments and Exchange Act, and there is hope for the promotion of Bitcoin ETFs

According to CoinPost, the Japanese Financial Services Agency released a document today announcing that it will seriously consider transferring the regulation of cryptocurrency assets from the Payment Services Act to the framework of the Financial Instruments and Transactions Act. If smoothly promoted, encrypted assets will be officially positioned as financial products, and the relevant tax system is expected to shift from a comprehensive tax of up to 55% to a separate tax of about 20%. It may also lift the ban on Bitcoin ETFs and improve the investor access environment.