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Japan's Financial Services Agency is considering formulating new regulations for Crypto Assets, dropping the profit tax rate to 20%.
According to ChainCatcher news and Jin10 reports, the Financial Services Agency of Japan is considering establishing regulations that would define Crypto Assets as financial products subject to insider trading rules, and reduce their profit tax rate to 20%. These regulations would apply to the 105 types of Crypto Assets currently circulating in Japan, such as Bitcoin and Ethereum, and require exchange service providers to disclose information regarding price fluctuation risks. The Financial Services Agency aims to pass the relevant legislation during the regular National Diet session next year.