According to Odaily Odaily, Japan's Financial Services Agency is studying the possibility of lifting the ban on spot cryptocurrency ETFs, including Bitcoin, as early as 2028. The plan includes amending the Enforcement Order of the Investment Trust Law to include virtual currencies within the scope of "specific assets" that investment trusts can invest in.
The report states that major financial institutions such as SBI Holdings and Nomura Holdings have begun developing related ETF products. Once approved for listing on the Tokyo Stock Exchange, individual investors will be able to participate in cryptocurrency ETF investments through their securities accounts, similar to trading stocks or gold ETFs. Previous surveys indicated that at least six asset management firms are researching related products, targeting both individual and institutional clients.
The report also points out that one of the key prerequisites for lifting the ban is tax reform. Currently, Japan imposes a comprehensive tax of up to 55% on virtual asset returns, and discussions are underway to adjust this to a separate tax system of approximately 20%. Analysts believe that if the tax system and related regulations are relaxed simultaneously, it will help expand the asset allocation options for individual and institutional investors. (Nikkei)
