Japan Approves Bill Recognizing Crypto as a Financial Asset
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Japan's parliament advanced a bill to reclassify crypto as a financial asset under the Financial Instruments and Exchange Act (pushed by the FSA); a final vote is expected in the coming months and the change enables regulated crypto ETFs in Japan for the first time. The proposal mandates disclosures for crypto products and imposes a flat 20% capital gains tax, increasing compliance and tax costs for traders, exchanges, and issuers. The move formalizes a shift from the 2017 payment-focused framework toward financial-market treatment, likely boosting institutional adoption and ETF development while raising regulatory and operational burdens for market participants (crypto, regulation, ETFs, compliance).
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- Japan’s parliament advances move to reclassify crypto as a financial instrument.
- It introduces mandatory disclosures and a flat 20% capital gains tax.
- The shift opens the door to regulated crypto ETFs in Japan for the first time.
Japan’s Financial Services Agency has advanced a bill to reclassify cryptocurrency as a financial asset under the Financial Instruments and Exchange Act. The legislation is currently moving through parliament, with a final vote expected in the coming months.
From Payment Tool to Financial Product
Japan has regulated crypto longer than most countries. In 2017, it became the first major economy to recognize cryptocurrency as a legal payment method under the Payment Services Act. Exchanges were required to register with the FSA, maintain segregated customer accounts, and comply with anti-money laundering rules.
That framework worked for…
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