Japan plans to change crypto classification
Japan intends to redefine cryptocurrencies like Bitcoin as “financial assets” in its tax reform proposals for fiscal year 2025.
Japan’s top financial regulator, the Financial Services Agency (FSA), has announced plans to redefine cryptocurrency assets like Bitcoin as ‘financial assets‘ in its tax reform proposals for fiscal year 2025. It would shift crypto from its current classification as “payment instruments” to something more in line with traditional investments. The change aims to give cryptoassets more legitimacy and could encourage greater public investment.
While the FSA did not directly call for tax reform, it suggested the possibility of revising Japan’s controversial…
