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Japan's Landmark Vote Reclassifies Bitcoin And Crypto As Financial Assets
Japan's Landmark Vote Reclassifies Bitcoin And Crypto As Financial Assets
Authored by Micah Zimmerman via The Epoch Times,
Japan’s parliament passed an amendment on Wednesday that reclassifies cryptocurrency as a “financial asset,” a shift that pulls bitcoin and other digital assets out of the country’s payments regime and into the framework that governs stocks, bonds, and investment trusts, according to a report from public broadcaster NHK.
The change strips crypto of its prior status under the Payment Services Act, where regulators treated it as a means of settlement, and folds it into the Financial...
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