Japan is advancing a regulatory shift for cryptocurrency trades, moving oversight from the Payment Services Act to the Financial Instruments and Exchange Act, and reclassifying cryptocurrencies as financial instruments under the same framework as stocks and bonds. According to Japanese Senate bill documents, the revised bill passed review by the House of Representatives Finance Committee on June 10 and still needs to complete subsequent parliamentary procedures. The amendment plans to lower the tax rate on crypto profits from a maximum 55% comprehensive income tax to a 20% capital gains tax, and reserve institutional room for the launch of cryptocurrency ETFs.