The Japanese financial services group, SBI Holdings, recently revealed its plan to launch a bitcoin/ XRP exchange-traded fund (ETF) that would be listed directly on the Tokyo Stock Exchange. The launch, however, is contingent on the approval of cryptocurrency-linked investment trusts and ETFs by Japan’s Financial Services Agency (FSA).

In its Q2 financial results, SBI also revealed plans for a gold and crypto asset fund. According to the product proposal, the SBI Fund of Crypto-Asset ETFs will allocate 51% of its assets to gold ETFs and the remainder to bitcoin ETFs. The second proposal outlines a new SBI bitcoin/ XRP ETF that would invest in bitcoin and XRP, among other assets.

Since 2022, the FSA has been actively reviewing and refining its regulatory framework for crypto-assets and stablecoins to ensure financial stability, user protection and compliance with international standards. This effort reflects Japan’s commitment to balancing innovation with robust oversight, positioning the country as a leader in responsible crypto regulation.

In addition to its product proposals, SBI Holdings shared its perspective on Japan’s current crypto asset regulatory environment. It pointed out the discrepancy between the definition of crypto assets as “payment instruments” under the Payment Services Act and their practical treatment as an investment asset class.

SBI Holdings also highlighted the classification of capital gains from crypto assets as “miscellaneous income,” which is then subject to a cumulative progressive tax of up to 55.95%. To address this and other issues, the company proposes “positioning crypto assets as financial instruments equivalent to securities.” This reclassification would subject crypto assets to separate taxation, effectively eliminating tax discrepancies.

Regarding stablecoins, SBI Holdings stated its desire for regulations on overseas-issued stablecoins to be eased “to promote their utilization in inter-corporate transactions.”

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。