Japan's House Approves Crypto Reform Bill to Cut Gains Tax to 20%

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Japan's House of Representatives approved a digital asset reform bill on June 11 that would cut cryptocurrency gains tax from a maximum of 55% to a flat 20%, effective 2028. The legislation reclassifies Bitcoin, Ethereum, and XRP as financial instruments under the Financial Instruments and Exchange Act instead of payment rules, bringing digital assets closer to securities regulation. The bill now moves to the House of Councillors for final approval, with the regulatory framework expected to take effect in 2027.
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