Japan FSA sets 2028 target for spot crypto ETFs and plans to cut top tax rate to 20 percent
Japan’s Financial Services Agency aims to enable spot cryptocurrency ETFs by 2028 through amendments to the Investment Trust Act, aligning crypto assets with eligible ETF holdings. Parallel tax reforms are expected to lower the current maximum individual crypto tax rate of about 55 percent to a flat 20 percent on specified investments, while major securities groups such as Nomura and SBI prepare related products and estimate potential ETF assets around one trillion yen.