Japan's finance minister pushes to allow crypto ETFs, cut tax rate to 20%

Satsuki Katayama, Japan's Minister of Finance, announced that the country will push forward with a review to allow cryptocurrency ETFs, speaking at the 'Open Quick 2026' seminar on July 10. According to Financial News, the Japanese government plans to classify virtual assets as financial products by amending the Financial Instruments and Exchange Act. Once the law is amended, SBI Securities and Rakuten Securities are expected to begin selling crypto ETFs. The initiative also includes tax reform. The current tax rate on income from crypto trading, which can be as high as 55%, is expected to be lowered to a 20% separate tax, the same rate applied to stocks.