2026-01-11 07:23:10

When considering Japan's cryptocurrency market, tax system issues tend to attract the most attention, but I believe the more fundamental impact comes from the regulatory framework of the Financial Instruments and Exchange Act (金商法). How authorities position cryptocurrencies as financial products can significantly alter the growth trajectory of the entire industry. Strict regulations will raise barriers to entry for institutional investors, but will also improve market transparency and trustworthiness. Conversely, a flexible approach could expand opportunities for startups and emerging projects. Along with tax reforms, the evolution of the 金商法 will determine the future of the Japanese market. These developments could also influence regulatory trends across Asia, making it worth paying close attention.

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DiamondHands

· 01-11 07:52

The Gold Business Act has indeed been underestimated, while the tax system has been overly hyped. If Japan enforces strict regulations this time, institutional funds will benefit, but startups will lose their way. Instead of waiting for tax reforms, it's better to first see how the Gold Business Act is defined; that's the real watershed. It sounds like Japan is following the old path of Europe and America, with a high probability of Asian followership. Flexible regulation sounds good, but in reality, it's a gamble on the regulatory authorities' self-control. Once the positioning of financial products is determined, it becomes difficult to change later. Japan needs to be cautious with this move. It seems that institutions are eager to enter, which is why they are pushing for a strict framework.

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GasGuru

· 01-11 07:51

The Financial Instruments and Exchange Act is the real key; tax systems are just superficial.

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AirdropAutomaton

· 01-11 07:50

The Financial Instruments and Exchange Act is the real determining factor; focusing only on the tax system is too one-sided. Can we not just talk about Japan? What about the rest of Asia? Strict regulation = difficulty for institutions to enter, but it also means retail investors have even less chance. Gentle policies sound nice, but who bears the risk... If Japan's framework is established, there's a high chance Southeast Asia will follow suit. The key still depends on how they balance it—it's really hard to achieve both protection and innovation at the same time. That's why we must always keep an eye on every move in Tokyo.

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CantAffordPancake

· 01-11 07:44

The Securities Business Act is the lifeblood of the Dragon Kingdom; the tax system is just superficial. When Japan moves, all of Asia has to follow suit; this is a deep game. Want transparency and vitality at the same time—how is that possible? Once institutions come in, retail investors will have no say—that's inevitable. With the regulatory framework set, the fate of projects is decided; what are you thinking? If the Securities Business Act really loosens, will Japan become the next Singapore? Unlikely. That's why Japan has been drifting all along, neither radical nor thorough.

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BearMarketMonk

· 01-11 07:42

Ha, still discussing the regulatory framework. Basically, it's about the attitude of the gambling authorities. Strictly speaking, institutions can't get in, and retail investors continue to trade. If it's more lenient, project teams will start to celebrate wildly. This cycle... history just keeps repeating itself. The developments on the Japan side are indeed worth watching, but don't be too optimistic. In the end, those who suffer the most are still the market sentiment-driven investors who are riding the wave. The true bottom logic isn't in the legal texts. Will Japan's choices influence the entire Asia? Ha, in the end, everyone will just follow the trend. The key isn't "how to regulate," but "how many projects will survive until the dust of regulation settles."

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ContractBugHunter

· 01-11 07:39

The core issue is the Financial Instruments and Exchange Act; the tax system has been discussed to death. --- When Japan's regulatory framework changes, the entire Asian market has to follow suit. --- The key is how the Financial Instruments and Exchange Act is defined; this determines whether institutional funds will enter the market. --- Strict regulation versus innovative vitality—Japan always swings between these two. --- Ultimately, it depends on how the authorities view this matter. Once the regulatory framework is set, everything else becomes easier to discuss. --- The attitude of the Financial Instruments and Exchange Act has a much greater impact than tax issues. Got it. --- Waiting to see Japan's regulatory movements, which can reveal the true intentions of Asian regulators.

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