# Japan's Parliament Reclassifies Bitcoin and Crypto as Financial Products

The amendment to the Financial Instruments and Exchange Act allows spot crypto exchange-traded funds and a planned cut in the top crypto tax rate to a flat 20 percent.

- Published: 2026-07-16T05:28:32.899Z
- Canonical: https://polylog.news/crypto/2026-07-16/japan-s-parliament-reclassifies-bitcoin-and-crypto-as-financ
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Bitcoin Magazine](https://bitcoinmagazine.com/news/japan-reclassifies-bitcoin-and-crypto), [CoinDesk](https://www.coindesk.com/policy/2026/07/15/japan-reclassifies-crypto-as-a-financial-asset-paves-way-for-tax-cuts)

Japan's House of Councillors, the upper chamber of its parliament, passed an amendment to the Financial Instruments and Exchange Act on July 15 that recognizes bitcoin, ether, XRP and other cryptocurrencies as financial products rather than…

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