Japan’s Upper House committee has taken a significant step by approving a bill to legalize Bitcoin exchange-traded funds (ETFs) and lower cryptocurrency taxes to a flat 20%. This move marks a shift in Japan’s regulatory framework, reclassifying cryptocurrencies as financial instruments under the Financial Instruments and Exchange Act (FIEA). The bill’s passage in the Upper House follows its approval by the Lower House and sets the stage for final approval, government promulgation, and subsequent rulemaking by the Financial Services Agency (FSA). The reclassification is expected to be implemented in fiscal 2027, which could pave the way for the first crypto ETF listings on the Tokyo Stock Exchange by late…