#Japan is executing a major regulatory overhaul, moving to officially reclassify #cryptocurrencies as traditional financial instruments.

The landmark reform slashes the aggressive, progressive 55% miscellaneous income tax on #crypto gains down to a flat 20% capital gains tax - matching the rate applied to stocks.

The approved framework also introduces a 3-year loss-carryforward provision and eliminates corporate taxes on unrealized crypto holdings, provided the assets are traded on licensed domestic exchanges.