Odaily Planet Daily reported that according to the Nikkei News, Japan's Financial Services Agency (FSA) plans to request a review of the treatment of cryptocurrency transactions in fiscal year 2026, and plans to refer to the treatment of listed stocks. The request will be formally submitted at the end of August, including transferring cryptocurrency gains to a separate tax bracket and applying a uniform tax rate of 20%. As part of the tax reform, companies in the industry also requested that losses be carried forward for three years. Currently, cryptocurrency income is regarded as "miscellaneous income" in Japan, with a progressive tax rate of up to 55%, excluding local taxes. The proposal of the Japanese Financial Services Agency will also make it easier for Japanese companies to launch domestic cryptocurrency ETFs to enhance the competitiveness of Japan's cryptocurrency industry. In addition to tax reforms, the Financial Services Agency also plans to formulate a legislative bill in 2026 to include cryptocurrencies in the Financial Instruments and Exchange Act, making it a "financial product" rather than a "means of payment" regulated by the Payment Services Act. (The Block)