Japan officially introduces ‘Japanese version of CLARITY bill’

Japan officially introduces ‘Japanese version of CLARITY bill’

Japan has officially introduced a new law recognizing digital assets as financial assets.

The key contents of this bill are as follows.

✅ Reclassify cryptocurrency as a financial product or financial asset rather than as a traditional payment method.

✅ Establishment of an institutional foundation for financial institutions such as banks to handle and hold cryptocurrency in accordance with relevant regulations

✅ Promoting a system to reduce the cryptocurrency tax rate, currently up to 55%, to 20% (implementation is scheduled to proceed according to subsequent legislative procedures)

This bill is evaluated as an important policy change for Japan to incorporate the digital asset market into institutional finance, expand the participation of institutional investors, and strengthen investor protection.

As a clear regulatory system is established, institutional capital inflow and market trust are likely to increase, which is expected to have a meaningful impact on the global digital asset market.