Oddbean new post about login | logout Time to ‘Redefine’ Crypto, Say Key Japan Lawmakers: https://yakihonne.s3.ap-east-1.amazonaws.com/953281df0361f1a7ff836841c2b978b8d606b035e7d07b8d148c72e50b4d78a7/files/1719215358559-YAKIHONNES3.jpg Top Japanese lawmakers say it is time for the country to “redefine” crypto and its approach to regulation. The statements hint that further crypto reforms could be on their way in Tokyo.
Taira emphasized the need to redefine the terminology related to cryptocurrencies, stating that crypto plays a role similar to that of gold and should be treated accordingly. He believes that redefining the terminology would allow financial institutions such as banks and securities companies to handle cryptocurrencies in a more normal manner. Currently, Japanese crypto exchanges and securities companies are governed by separate laws, and the tax system follows suit
