Japan's FSA to Reclassify 105 Cryptocurrencies as Financial Products, Cut Tax to 20%

Japan's Financial Services Agency is drafting regulations to reclassify 105 domestically traded cryptocurrencies, including Bitcoin and Ethereum, as financial products subject to insider trading laws. The proposal would reduce the tax rate on cryptocurrency profits from a progressive structure reaching 55% to a flat 20%, matching the treatment of stock trading gains. The reforms aim to align digital asset regulation with traditional securities markets.