Financial Services Agency Explains Cryptocurrency Separate Taxation and the Establishment of 'Children's NISA' in Its Newsletter

On the 25th, the Financial Services Agency discussed the separate taxation of crypto assets (cryptocurrencies) and the expansion of NISA in the February issue of its newsletter 'Access FSA', as part of the fiscal 2023 tax reform outline. For crypto assets, the taxation will shift from the current maximum of 55% under comprehensive taxation to a 20% separate taxation for certain transactions. According to the agency's explanation, the 'certain crypto asset transactions' that qualify involve sales or consignment sales of crypto assets handled by provisional crypto asset exchange service providers to other professionals in the industry. The amendment of the Investment Trusts and Investment Corporations Act is also presupposed, allowing certain crypto assets to be included in ETFs (Exchange Traded Funds) as investment targets...