Japan intends to classify cryptocurrencies as new assets, not securities regulation

PANews March 7th news, Astar Network founder Sota Watanabe revealed on X platform: "In Japan, cryptocurrencies may not be considered as securities, but are regulated under the new framework of the Financial Instruments and Transactions Act as a new asset class. If the bill is passed, it will be a victory for the cryptocurrency industry. The Japanese government has been in consultation with Japanese industry leaders, which is a positive result of the cooperation between the two sides."

Previously, yesterday's news, Japan's ruling party proposed to reduce the upper limit of the crypto tax rate to 20% for benchmark stock investment .