According to Bloomberg, Japan's House of Representatives passed a bill on June 11 that reduces cryptocurrency tax rates from the current maximum of 55% to a flat 20% and classifies digital assets like Bitcoin and Ethereum as financial products similar to traditional securities, effective starting in 2028.
The legislation, which amends the Financial Instruments and Exchanges Act, still requires approval from the upper house and the Council of State before final enactment. The reclassification will allow cryptocurrency ETFs to be traded in Japan and align crypto capital gains taxation with stocks and bonds.