Japan's House Lowers Crypto Tax Rate to 20%, Reclassifies as Financial Instrument on June 11

According to BlockBeats, on June 11, Japan's House of Representatives passed a bill reclassifying cryptocurrency as financial instruments under the Financial Instruments and Exchange Act. The legislation cuts the tax rate on crypto gains from a maximum of 55% (miscellaneous income) to a flat 20% capital gains tax, and opens the door for cryptocurrency ETF offerings. The new rules are set to take effect in 2027.
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