Startale CEO: Japan's ruling party proposes new crypto regulatory framework

On March 6th, Startale CEO Sota Watanabe revealed on social media: "Today is an important day in Japan. The ruling party proposed to regulate cryptocurrencies under a new framework in the Financial Instruments and Exchange Act. If approved this year, it is very likely that the tax exemption for encrypted ETFs and taxes will be reduced from a maximum of 55% to 20%. I am 100% sure that more Japanese people will enter the world of blockchain."

Watanabe further explained: "In Japan, cryptocurrencies are likely to not be regulated as securities, but as a new asset class under the new framework of the Financial Instruments and Exchange Act. If approved, this will be a victory for the industry. The government has been in dialogue with industry leaders in Japan, and this is a good result of cooperation."