The Japan Financial Services Agency (FSA) is weighing a move to treat crypto assets as financial products same as securities. This move has been received with great enthusiasm in the crypto community as participants consider it bullish. Max Brown, a crypto analyst and managing partner at Ash Crypto, termed it “Giga Bullish.”
🚨 BREAKING 🚨
JAPAN TO APPROVE BITCOIN SPOT
ETF AND IS CONSIDERING 0% TAXES
ON CRYPTO INVESTMENTS.THIS IS GIGA BULLISH 🚀 pic.twitter.com/JM59ycLiDm
— Max Brown (@MaxBrownBTC) February 10, 2025
Following the news, BTC has rebounded from a lower price of $94,855.27 achieved earlier today. If the move by Japan’s FSA opens doors for BTC ETFs, Bitcoin could grow massively.
Japan FSA Holds Closed-Door Crypto Discussions; Details
According to a recent report by Yahoo Japan, the country’s watchdog FSA is holding closed-door discussions to weigh in positioning crypto or virtual assets as financial products. A FSA study group full of experts will examine the current crypto regulatory framework in the country and issue their verdict by the end of June 2025.
The agency will then seek from the Financial System Council. This is set to happen after autumn after which the agency will submit a bill to amend relevant laws in 2026. However, the dates for each of the above events will unfold as time goes by.
Treatment of crypto assets the same as securities in Japan will open doors for crypto spot ETFs which are currently banned in the country. But the agency will debate whether to use existing laws under the Financial Instruments and Exchange Act to crypto assets. Alternatively, the agency may need to establish new laws under the same act or the Payment Services Act.
Besides paving the way for crypto ETFs, the current discussions could result in taxes on crypto gains reduced from 55% to 20%. This would in turn result in widespread institutional adoption of top cryptocurrencies like BTC and ETH in Japan.
How Has BTC Performed Following the News?
Bitcoin (BTC) dropped to $94,855.27 earlier today. However, the price has pumped to $97,872.51 after Japan’s crypto discussion news. Despite being on an upswing, BTC has only surged by 1.19% which is only a slight increase.
The data on Coinmarketcap also shows that the activity around Bitcoin is on the rise. This can be seen on the increased trading volume which shows 68.93% surge in the last 24 hours. Currently, the trading volume stands at $38.16 Billion. BTC’s market capitalization has also surged by 1.18% in the day and is at $1.94 Trillion.
Japanese Firm Metaplanet To Buy 21,000 BTC By 2026
Metaplanet, a Japanese Bitcoin Treasury Company, recently shared its plan to buy a large number of BTC by the end of 2026. As reported earlier by Blockchain News, Metaplanet has a plan to buy 10,000 Bitcoin by the end of 2025 and 21,000 by the end of the following year.
Metaplanet’s move is inspired by MicroStrategy and expresses that the firm is bullish about Bitcoin. The recent move by Japan to weigh lifting the ban on cryptocurrencies confirms the extra-bullishness around BTC.
This news is republished from another source. You can check the original article here
