1 month ago
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Key Takeaways
- FIEA amendment passed lower house June 11; upper house pending.
- Crypto tax drops from 55% to flat 20% in 2028.
- Loss carryforward offsets crypto gains only, not stock gains.
- SBI filed Bitcoin and XRP ETFs targeting $32B AUM.
- Up to half of Japan’s 27 exchanges may consolidate.
Japan’s lower house passed the FIEA amendment on June 11, 2026, advancing legislation the Cabinet formally submitted to the National Diet on April 10, following the Financial Services Agency’s framework review.
The bill moves cryptocurrencies out of the Payment Services Act and into the Financial Instruments and Exchange Act (FIEA), the same legal framework governing stocks, bonds, and investment trusts. It heads to the upper house for final approval, where passage is widely expected, with implementation due within one year of promulgation, targeting fiscal 2027.
The reclassification is not cosmetic. Every downstream rule, disclosure ...
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