finance
Japan Parliament Advances Bill to Reclassify Crypto as Financial Product, Cutting Taxes to 20% but Adding Insider Trading Rules
The legislation would lower the top crypto tax rate from 55% to 20% and add insider-trading rules. It marks the first formal treatment of digital assets under Japan's financial-product framework.
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Japan's parliament has advanced a bill that would reclassify crypto as a financial product. The measure would cut the maximum tax rate on crypto from 55% to a flat 20% and introduce insider trading rules for crypto for the first time. Current law taxes crypto gains at rates reaching 55%.
The bill would replace that structure with the single 20% rate. @CoinDesk reported the parliamentary action on June 11.
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