Japanese Financial Regulator Proposes Reclassification of Cryptocurrency

Japan’s Financial Services Agency (FSA) has proposed recognizing tokens like Bitcoin (BTC) as “financial assets” in its fiscal year 2025 tax reform request. This proposal aims to reclassify cryptocurrency to validate its status in the financial market. According to local news outlet CoinPost and an FSA document, discussions on integrating financial income taxation in Japan could lead to a... source: https://news.shib.io/2024/12/30/japanese-financial-regulator-proposes-reclassification-of-cryptocurrency/?utm_source=rss&utm_medium=rss&utm_campaign=japanese-financial-regulator-proposes-reclassification-of-cryptocurrency