The year 2024 in the US hosted landmark decisions for Bitcoin (BTC) and cryptocurrencies, as spot Bitcoin and Ethereum ETFs were approved. After these approvals, ETF applications for altcoins such as XRP and Solana (SOL) are also expected to be approved. While the ETF movement in the USA has become an example for other countries, Japan has also opened the doors to ETFs. Japan's Financial Services Agency has published a proposal today to include cryptocurrencies under the Financial Instruments and Exchange Act, local news agency Coinpost reported. At this point, the proposal proposes that cryptocurrencies like Bitcoin be recognized as “financial products” under the Financial Instruments and Exchange Act (FIEA), which regulates securities and traditional financial products. The proposal, which will be reviewed by the Financial System Council tomorrow, June 25, could pave the way for spot Bitcoin ETFs in Japan and allow crypto gains to be taxed at a flat 20% rate instead of the current graduated tax rate of up to 55%. It was stated that this change could make BTC and crypto investments more attractive to both retail and institutional investors. Finally, experts predict that if the proposal submitted in Japan is accepted and cryptocurrencies are treated as a financial product, it will pave the way for regulated crypto investment vehicles. It was stated that this could mean that spot Bitcoin ETFs, something that Japan has been holding back for years, could finally get approval. *This is not investment advice. Continue Reading: A New Bitcoin (BTC) Move Has Come From Japan That Will Change All The Rules!
