Startale CEO: Japan's ruling party proposes new cryptocurrency regulatory framework
On March 6th, Startale CEO Sota Watanabe revealed on social media: "Today is an important day in Japan. The ruling party has proposed to regulate cryptocurrencies under a new framework of the 'Financial Instruments and Exchange Act'. If approved this year, it's very likely that crypto ETFs will be realized and tax reductions from as high as 55% down to 20% could occur. I am 100% certain more Japanese people will enter the blockchain world."
Watanabe further explained: "In Japan, cryptocurrencies are likely not going to be regulated as securities but rather as a new asset class under the new framework of the 'Financial Instruments and Exchange Act'. If passed, this would be a victory for the industry. The government has been in dialogue with Japanese industry leaders; this is a good result of cooperation."
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