[Japanese Senate Passes Bill Redefining Crypto Assets as Financial Products] BlockBeats News, July 15: On July 15, the Japanese Senate plenary session passed amendments to the *Financial Instruments and Exchange Act* and the *Payment Services Act*, redefining crypto assets from a payment method to financial products. Key revisions include: increasing the maximum prison term for unregistered financial activities from less than 3 years to less than 10 years, and raising fines from less than 3 million yen to less than 10 million yen; introducing regulations on insider trading of crypto assets for the first time, prohibiting trading based on undisclosed material information; and requiring specific crypto asset issuers to disclose information periodically on an annual basis. In terms of taxation, the system will shift from a maximum 55% comprehensive taxation to a separate self-assessed taxation (with a tax rate of approximately 20%), allowing losses to be carried forward for 3 years. This is expected to take effect on January 1, 2028. Additionally, the proposed amendments aim to establish a framework to support the creation of crypto asset ETFs. [Original Link]