Overview
- Local media report that the Financial Services Agency plans to fold about 105 listed tokens, including bitcoin and ether, into the Financial Instruments and Exchange Act.
- The framework would apply insider-trading restrictions to covered digital assets and bring securities-style oversight to the market.
- Domestic exchanges would be required to publish standardized disclosures for each approved token, outlining issuer status, underlying technology, volatility and other material risks.
- Banks and insurers could sell approved crypto products through their securities subsidiaries under the proposal, broadening distribution channels.
- The plan includes a flat 20% tax on crypto gains to replace the current progressive rates of up to roughly 55%, with industry groups warning that compliance costs could strain smaller exchanges.