1. Japan to Bring Crypto Transactions Under Financial Instruments Exchange Law Framework link

Japan is advancing efforts to shift the regulation of cryptocurrency transactions from the Payment Services Act to the Financial Instruments and Exchange Act, reclassifying cryptocurrencies as financial instruments under the same regulatory framework as stocks and bonds. According to documents from the House of Councillors of Japan, the relevant amendment bill was passed by the Committee on Financial Affairs of the House of Representatives on June 10 and still needs to go through subsequent parliamentary procedures. It plans to change the taxation on cryptocurrency income from a maximum comprehensive tax rate of 55% to a 20% capital gains tax…