Japanese regulators plan to reclassify 105 cryptocurrencies including BTC and ETH as "financial products," with the tax rate possibly reduced to 20%

BlockBeats News, on November 16, the Financial Services Agency (FSA) of Japan plans to reclassify 105 crypto assets, including bitcoin and Ethereum, as financial products and bring them under the supervision of the Financial Instruments and Exchange Act. Currently, Japanese residents must declare crypto earnings as "miscellaneous income," with a maximum tax rate of 55%. After the reclassification, trading profits from these 105 tokens will be taxed as capital gains at a unified rate of 20%, equal to the tax rate for stock trading. According to reports, the proposal is expected to be included in the budget plan at the beginning of 2026.