In its newly released tax reform outline, Japan's Financial Services Agency (FSA) plans to change the status of crypto assets from payment instruments to financial assets. According to the outline, crypto asset transactions will receive the same tax incentives as financial products such as listed stocks, provided that appropriate investor protection mechanisms, disclosure obligations, and compliance requirements are established.
The classification of cryptocurrencies is likely to change after Japan's Financial Services Agency announced plans to start treating cryptocurrencies such as bitcoin as "financial assets". According to official documents, the FSA published its position in its fiscal 2025 tax reform request, which wants to start treating cryptoassets as "financial assets that the general public can invest in". Currently, Japanese law classifies cryptoassets as "payment instruments" under the terms of the Payment ...
Japan's Financial Services Agency (FSA) recently put forward some ideas on cryptocurrencies and stablecoins to the Financial System Commission's Payment Services Working Group, mentioning reluctance to allow banks other than trust banks to issue stablecoins. For stablecoins issued by trust banks, the FSA wants to relax the current reserve requirement that all assets must be held in the form of bank demand deposits....
On November 29, according to CoinPost, Japan's Financial Services Agency issued a warning to five unregistered overseas cryptocurrency exchanges. These exchanges include KuCoin, bitcastle LLC, Bybit Fintech Limited, MEXC Global, and Bitget Limited. The FSA pointed out that these exchanges provided cryptocurrency trading services to Japanese users without permission, violating Japanese regulations on crypto asset trading. Since unregistered exchanges are not regulated by the FSA, their customer a...
The Dubai Financial Services Authority (DFSA) has announced that ZetaChain (ZETA) has been accredited by the Dubai Financial Services Authority in accordance with the relevant requirements of GEN Rule 3A.3.4 in its rulebook. As a general-purpose blockchain, ZetaChain has native access to blockchains including bitcoin, and the approval of the Dubai Financial Services Authority brings greater trust and global access to ZetaChain.
Japan's Financial Services Agency issued an opinion saying that "non-custodial wallet services" using authentication technology do not belong to the category of crypto asset trading business (management business), a decision that helps to ease some legal uncertainties in the crypto asset (virtual currency) industry. The decision was made through a "grey area elimination regime" based on the Industrial Competitiveness Enhancement Act, which aims to promote innovation by clarifying in advance the ...
On September 25th, Japan's Financial Services Agency discussed providing enterprises with a more convenient mechanism for processing cryptoassets (virtual currencies) at a panel meeting on the revision of its fund settlement law. Participants believed that reducing the burden on enterprises will promote the participation of large domestic gaming companies and promote the research and development of related blockchain ecosystems. The meeting also mentioned that with the expansion of the virtual c...
Japan's Financial Services Agency has published requirements for tax reform for fiscal year 2025, including regulations on cryptoassets (virtual currencies). The "Asset Return Multiplication Plan and the Realization of Asset Management Countries" section of the reform plan mentions the tax treatment of virtual currency transactions for the first time, discussing whether virtual currencies should be treated as financial assets. The request for tax reform was made by various government agencies an...
Ian Johnston, President of the Dubai Financial Services Authority (DFSA), said in an exclusive interview with Wen Wei Po in Hong Kong that the key foundation for supporting innovation is to create an innovative culture and have a clear strategic vision. In addition to formulating relevant development policies and establishing innovation centers and accelerators, Dubai has also tailored a comprehensive regulatory system for digital assets.
The Dubai Financial Services Authority (DFSA) has announced changes to the cryptocurrency regime, reducing the fee for recognition from the previous $10,000 per token to $5,000. The amendments aim to enhance the regulatory framework for tokens within the UAE's special economic zones. The amendments also allow domestic investor funds to invest in unrecognized tokens, subject to exposure of no more than 10% of the fund's total assets. DFSA CEO Ian Johnston said the change was not meant to ease reg...
迪拜金融服务管理局(DFSA)宣布对加密货币制度进行调整,将认可费用从先前的每个代币1万美元降至5000美元。修订旨在提升阿联酋特殊经济区内代币的监管框架。此次修订还允许国内投资者基金投资未认可代币,但暴露度不得超过基金总资产的10%。DFSA首席执行官伊恩·约翰斯顿表示,这一变更并非意味着监管放松,而是为了更好地促进创新。