Overview
- Local reports say the Financial Services Agency intends to move 105 listed tokens, including bitcoin and ether, under the Financial Instruments and Exchange Act’s securities-style oversight.
- The tax proposal would shift profits on the covered assets from the current progressive system that can reach about 55% to a flat 20% rate aligned with stock trading.
- Exchanges would be required to publish detailed information on each token, such as issuer presence, underlying blockchain, volatility profile, and other material risks.
- Insider-trading restrictions would apply to crypto for the first time, barring trades based on non‑public listing timelines or issuer financial information by issuers, exchange staff, and related parties.
- Banks and insurers could distribute crypto through securities subsidiaries and may be permitted to operate exchanges or custody services, though the FSA has not officially commented on the reported plans.