[Japan Plans to Regulate Cryptocurrency Under Stock Standards, Capital Gains Tax Reduced to 20%] According to a report by Jinse Finance, on June 11, Japan will redefine cryptocurrency as a financial instrument under the Financial Instruments and Exchange Act, placing it under the same regulatory framework as stocks and bonds. The Japanese House of Representatives voted to pass the bill today. The bill reduces the tax rate on cryptocurrency gains from a maximum of 55% (miscellaneous income) to a fixed 20% capital gains tax. It also paves the way for cryptocurrency ETFs, with the new regulations set to take effect in 2027. The core driving force behind this policy is the significant tax rate reduction and the enhanced regulatory status of the industry, which is expected to boost domestic trading volumes and facilitate institutional capital entry. However, the accompanying implementation of stricter regulations (including insider trading controls) will increase compliance costs, creating a balance. The long-anticipated alignment of cryptocurrency markets with traditional financial market rules has now taken another critical step forward.