Japan plans to review cryptocurrency regulations, possibly lowering taxes on digital assets and launching crypto funds

ChainCatcher news, according to Bloomberg, the Financial Services Agency (FSA) of Japan will begin reviewing the country's cryptocurrency regulatory rules in the coming months. An FSA official stated that this assessment will focus on whether the current Payment Services Act adequately regulates cryptocurrencies. This move could pave the way for reducing digital asset taxes and launching cryptocurrency investment funds in Japan.

Currently, the Japanese cryptocurrency industry is seeking to lower the digital asset capital gains tax rate from the current maximum of 55% to 20%.