Japan’s Major Brokerages to Offer Crypto Investment Trusts
- SBI Securities and Rakuten Securities plan to sell crypto investment trusts, providing bitcoin and ethereum exposure without needing a separate exchange account.
- Japan’s Financial Services Agency (FSA) aims to revise the Investment Trust Act by 2028, reducing the tax rate on cryptocurrency gains from a potential high of 55% to a flat rate of 20%.
- Nomura, Daiwa, and other major firms are considering offering crypto fund products once regulatory frameworks are finalized.
- The proposed legislation would reclassify cryptocurrencies as financial products under the Financial Instruments and Exchange Act by fiscal year 2027.
- Nearly eight out of ten Japanese institutional investors plan to allocate between two to five percent of their portfolios to crypto assets by the year-end of fiscal year ending March,2029.
Japan is advancing its regulatory framework for cryptocurrencies, allowing brokerages like SBI and Rakuten Securities to offer investment trusts that include bitcoin and ethereum. This move aligns with the FSA’s goal of making cryptocurrencies eligible for investment vehicles by revising existing laws by fiscal year ending March,2028.
