Overview
- The proposal would classify many listed cryptocurrencies as financial products subject to insider-trading rules.
- Roughly 105 tokens, including bitcoin and ether, would be covered, with exchanges required to provide clearer risk disclosures.
- Banks and insurance companies could sell digital assets through their securities subsidiaries, broadening distribution.
- Retail investors would face a flat 20% tax on crypto gains instead of progressive rates that can reach about 55%.
- The FSA has not commented on the report, which says the agency is aiming for legislation in the next ordinary Diet session.