Japan Crypto News: Parliament Reclassifies Bitcoin, XRP, & Ethereum as Financial Products

The post Japan Crypto News: Parliament Reclassifies Bitcoin, XRP, & Ethereum as Financial Products appeared first on Coinpedia Fintech News

Japan’s House of Councillors passed an amendment to the Financial Instruments and Exchange Act, which officially recognizes cryptocurrencies as financial products rather than payment tools.With this, the country is now planning to cut crypto taxes from 55% to 20% and open the door to Bitcoin ETFs. Japan Moves Crypto Under Financial Product Rules Japan’s parliament …