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💬Japan Approves a Historic Law for Cryptocurrencies (Impact on Binance)
📊💰
Japan’s Parliament (House of Councillors) has officially approved a historic legislative reform that reclassifies cryptocurrencies as "institutional financial assets" (under the Financial Instruments and Exchange Act - FIEA). Previously, they were treated as mere payment methods.
This reclassification requires platforms like Binance Japan to apply the same strict rules on transparency, disclosure, and penalties for insider trading that govern traditional stock market shares.
As a trade-off for the tougher rules, Japan’s Prime Minister approved the final plan to cut crypto gains taxes from 55% to a flat rate of 20%. This will open the floodgates for investment funds to inject billions of dollars into the market.
$GIGGLE $XEC $AXTIB
#japon #binancejapon
📊💰
Japan’s Parliament (House of Councillors) has officially approved a historic legislative reform that reclassifies cryptocurrencies as "institutional financial assets" (under the Financial Instruments and Exchange Act - FIEA). Previously, they were treated as mere payment methods.
This reclassification requires platforms like Binance Japan to apply the same strict rules on transparency, disclosure, and penalties for insider trading that govern traditional stock market shares.
As a trade-off for the tougher rules, Japan’s Prime Minister approved the final plan to cut crypto gains taxes from 55% to a flat rate of 20%. This will open the floodgates for investment funds to inject billions of dollars into the market.
$GIGGLE $XEC $AXTIB
#japon #binancejapon
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