Key Takeaways:
- Japan reclassified crypto as financial instruments under the FSA to curb insider trading by 2027.
- Proposed tax cuts from 55% to 20% aim to align digital assets with traditional Japanese stocks.
- Unregistered sellers face 10-year prison terms and $62,800 fines to boost market transparency.
New Compliance Standards and Penalties
The Japanese government has reportedly approved a bill to amend the Financial Instruments and Exchange Act, marking a historic shift in digital asset oversight. For the first time, cryptocurrencies will be treated as financial instruments, introducing strict rules to curb insider trading and enhance market transparency.
According to a local report, key provisions of the bill include a ban on…
