Japan's Financial Services Agency (FSA) pushes to include virtual assets in insider-trading rules and lower gains tax rate
Summary
- The Financial Services Agency of Japan said it is considering including virtual assets among financial instruments subject to insider-trading regulations.
- It said it is promoting a plan to lower the tax rate on virtual asset gains from the current maximum of 55% to a single 20% rate, the same as for stock trades.
- It said that if the regulation is introduced, obligations for exchanges to disclose information and allowing banks and insurers to sell virtual assets are expected to affect the investment environment.
The Financial Services Agency of Japan (FSA) is pushing to include virtual assets (cryptocurrencies) as financial instruments subject to insider-trading regulations and to substantially lower the tax rate on virtual asset gains.
On the 17th (local time), the Asahi Shimbun reported that the FSA is discussing a plan to include 105 financial instruments circulating in Japan, such as Bitcoin and Ethereum, among the financial instruments subject to insider-trading regulations. Accordingly, exchanges would be required to disclose related information such as price volatility risks.
Also, if the new regulations are introduced, banks and insurance companies would be able to sell virtual assets to customers through securities subsidiaries. The taxation method for virtual asset gains is also planned to apply a single tax rate of 20%, the same as for stock trades. This would be a significant reduction from the current progressive taxation of up to 55%.
Meanwhile, the FSA aims to pass the new bill at next year's regular Diet session.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
