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Japan Crypto Law Enacted: Digital Assets Become Financial Products as US Bill Stalls

Japan's Diet passed the FIEA amendment on July 15, making crypto a financial product under the same law that governs stocks and bonds. Insider trading rules, tougher penalties, and disclosure duties arrive with it, and the preconditions for a 20% flat tax and domestic crypto ETFs are now cleared. Enforcement is expected in fiscal 2027, with the tax change from January 2028. Meanwhile, the US CLARITY Act remains stuck in the Senate.

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Japan's Crypto ETF: When It Opens, Which Tokens Qualify, and the 20% Tax Catch

Japan's finance minister has again signaled support for domestic crypto ETFs. But under current law crypto is not an eligible asset for a Japanese fund, so no spot ETF can be built. The bill that fixes that became law on July 15, 2026. Here is the honest answer to the three questions global investors ask: when, which tokens, and at what tax rate.