Japan Considers New Cryptocurrency Rules

Illustration of crypto in Japan (photo: x @CryptoNinjaPlus)

JAKARTA - The Japanese Financial Services Authority (FSA) is reportedly considering a new set of regulations that will classify crypto assets as official financial products subject to insider trading rules (insider trading). This news was first reported by the Dunia newspaper on Sunday, November 16.

According to the report, the new rules will include 105 types of cryptocurrencies currently trading in Japan, including bitcoin and ethereum. Crypto asset exchanges will be required to provide more transparent information to consumers, including explanations of price volatility risks and other factors that could affect the value of digital assets.

One of the major changes considered by FSA is to allow banks and insurance companies to sell cryptocurrencies to their customers through their securities subsidiaries. This will expand public access to digital assets through traditional financial institutions.

Another important aspect is the profit tax reduction plan from cryptocurrency transactions. Under the new rules, profits from crypto asset trading will be subject to a flat tax of 20%, equivalent to capital gain taxes from stock trading. Currently, tax rates on crypto profits can reach 55%, depending on individual income.

The FSA hopes to pass the necessary laws in a regular parliamentary session next year. Until now, the FSA has not made official comments regarding the report.

This regulation is expected to bring significant changes to the Japanese crypto market, including the potential for increased institutional interest in digital assets and the creation of a safer and more structured trading ecosystem.