Japan Lower House Passes Crypto Tax Cut Bill, Bitcoin at $63K

On June 12, Sanae Takaichi’s government advanced landmark legislation after Japan’s Lower House approved the bill on June 11. The measure reclassifies cryptocurrencies as financial instruments, cuts capital-gains tax from as high as 55% to a flat 20%, and creates a pathway for crypto ETFs while tightening insider-trading rules. The reform still requires Upper House approval, with the broader framework expected next year and tax changes effective in 2028. Bitcoin traded near $63,000, up 3.3% on the news, as markets welcomed clearer regulation and potential Japanese institutional inflows. Smaller exchanges may face higher compliance costs under the new regime.