In 2024, the US witnessed significant events for Bitcoin and cryptocurrencies, with the approval of Bitcoin and Ethereum ETFs. In response, Japan has also begun considering the introduction of cryptocurrency ETFs.
Approval of Bitcoin and Ethereum ETFs in the US
In 2024, Bitcoin and Ethereum ETFs were approved in the US, opening new opportunities for investors. This decision marked an important step in the legalization and integration of cryptocurrencies in traditional financial markets.
Japan's Proposal for Cryptocurrency ETFs
Today, Japan's Financial Services Agency published a proposal to include cryptocurrencies under the Financial Instruments and Exchange Act. The proposal suggests recognizing cryptocurrencies like Bitcoin as financial products. This will be reviewed by the Financial System Council, potentially leading to approval for Bitcoin ETFs in Japan.
Potential Consequences of Japan's Proposal
If this proposal is approved, it could make investments in Bitcoin and other cryptocurrencies more attractive with a flat tax rate of 20%, compared to the current graduated rate. Experts believe this could also pave the way for regulated crypto investment vehicles, including Bitcoin ETFs.
Thus, the potential acceptance of the proposal to recognize cryptocurrencies as financial products in Japan may significantly alter the crypto investment landscape and support legitimate investment mechanisms for investors.
