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Japan’s Financial Services Agency is set to review its crypto regulations, potentially leading to lower taxes and allowing domestic funds to invest in tokens.

Japan is preparing to review its cryptocurrency regulations, which could result in lower taxes and allow domestic funds to invest in tokens, an official at the Financial Services Agency told Bloomberg.

The FSA is now reportedly set to assess whether regulating crypto under the Payments Act provides sufficient investor protection, as tokens are used primarily for investment rather than payment. The review could result in reclassifying crypto as financial instruments under Japan’s investment law, which would offer stronger protections, per a person familiar with the matter.

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