TechFlow news, March 6 — Startale CEO Sota Watanabe revealed on social media: "Today is an important day for Japan. The ruling party has proposed regulating cryptocurrencies under a new framework within the Financial Instruments and Exchange Act. If approved this year, it’s highly likely that crypto ETFs will be permitted and tax rates reduced from a maximum of 55% to 20%. I’m 100% confident that more Japanese people will enter the on-chain world."
Watanabe further explained: "In Japan, cryptocurrencies are unlikely to be regulated as securities, but instead classified as a new asset category under a new framework of the Financial Instruments and Exchange Act. If passed, this will be a victory for the industry. The government has been in dialogue with Japanese industry leaders—this is a positive outcome of collaboration."
