Japan, the world's fourth-largest economy, has moved a step closer to launching $BTC ETFs.
The country's Upper House committee has approved a bill that classifies cryptocurrencies as financial instruments, placing them alongside stocks and bonds.
The legislation has already cleared the Lower House, and final approval is widely expected due to the ruling party's majority.
If enacted, the changes will take effect in fiscal 2027, paving the way for $BTC ETFs to begin trading on the Tokyo Stock Exchange by late 2027 or 2028.
Japan is also considering reducing crypto taxes from rates as high as 55% to a flat 20%, bringing them in line with stock investment taxes, with the proposal targeted for 2028.
#JuneCPIFedHike20%
The country's Upper House committee has approved a bill that classifies cryptocurrencies as financial instruments, placing them alongside stocks and bonds.
The legislation has already cleared the Lower House, and final approval is widely expected due to the ruling party's majority.
If enacted, the changes will take effect in fiscal 2027, paving the way for $BTC ETFs to begin trading on the Tokyo Stock Exchange by late 2027 or 2028.
Japan is also considering reducing crypto taxes from rates as high as 55% to a flat 20%, bringing them in line with stock investment taxes, with the proposal targeted for 2028.
#JuneCPIFedHike20%