The Japan Financial Services Agency has announced plans to classify cryptocurrencies such as Bitcoin as 'financial assets', which could trigger significant changes in cryptocurrency classification! 📈 According to official documents, the agency proposed to regard crypto assets as 'financial assets that the general public can invest in' in the fiscal year 2025 tax reform request. Currently, Japanese law classifies them as 'payment instruments', and this shift implies a certain degree of legalization for cryptocurrencies.

Although the document does not directly call for cryptocurrency tax reform, there are signs that Japan's controversial cryptocurrency tax rules may be reviewed. The Liberal Democratic Party also supports this trend in its tax policy proposals, looking forward to stricter regulations being applied to the cryptocurrency industry. 🔍