Startale CEO: Japan plans to classify cryptocurrencies as new assets, not securities

Odaily News Sota Watanabe, CEO of Startale, revealed on X that Japan's ruling party has proposed to establish a new regulatory framework for cryptocurrencies under the Financial Instruments and Exchange Act. If the proposal is passed this year, cryptocurrencies may not be regulated as securities, but will be regarded as a new asset class, which may lead to the launch of crypto ETFs and a reduction in the tax rate from a maximum of 55% to 20%.
The government has been in dialogue with Japanese industry leaders and the move is seen as a positive outcome of regulatory and industry collaboration and is expected to attract more Japanese investors to the on-chain market.