Japan’s Lower House reportedly passed a bill that would bring crypto under the country’s financial instruments framework, potentially opening the door to ETFs and lower tax treatment. Japan’s Lower House reportedly passed a bill that would bring crypto assets under the country’s financial instruments framework, potentially opening a path to exchange-traded funds (ETFs) and lower tax treatment for digital assets. The bill would move crypto assets closer to the regulatory treatment of stocks and bonds by subjecting them to stricter trading rules, Bloomberg reported on Thursday. The legislation is expected to take effect next year after going through the Upper House. The proposed changes could lower the capital gains tax on crypto assets like Bitcoin (BTC) and Ether (ETH) from a current maximum of 55% to a 20% flat rate, in line with stocks and bonds. The tax change is expected to take effect in 2028. Read more
Bitcoin’s average price response to Bank of Japan rate hikes was a 22.5% sell-off. Will BOJ’s upcoming policy decision trigger another BTC price crash? Since 2024, Bitcoin (BTC) has posted four major corrections after interest rate hikes by the Bank of Japan (BOJ), with declines ranging from 18% to 28%. This dynamic places renewed attention on the BOJ's June 16 policy decision. Data currently point to a variety of pressures on BTC, with BTC whale distribution and exchange inflows possibly carrying more weight than Japanese monetary policy. The relationship between BOJ policy and Bitcoin has gained attention because each rate increase since Japan ended its negative interest rate policy has been followed by a sizable correction. Read more
SBI will give out vouchers that can be redeemed for Bitcoin, Ether or XRP through SBI VC Trade, linking bank savings with the group’s crypto exchange arm. SBI Shinsei Bank will reportedly launch a service that rewards deposit customers with cryptocurrency exchange vouchers based on their account balances. According to a Nikkei report, customers will receive vouchers equal to 20% of their interest payments, in addition to their yen-denominated interest. The vouchers can be exchanged for Bitcoin (BTC), Ether (ETH) or XRP within a specified period. Customers would need to open an account with SBI's crypto exchange arm, SBI VC Trade, to redeem the vouchers. Read more