The change would affect 105 cryptoassets, and it could reshape trading, reporting and who is allowed to hold these assets.
The move would force domestic exchanges to publish far more detail about each listed token — for example, whether an asset has a clear issuer, the technology that runs it, and its volatility profile.
Moving to a 20% regime would align the treatment of those assets more closely with how stock gains are taxed, and could change the incentives for active traders and investors.
Bank groups could be allowed to register and operate as licensed exchanges through their securities arms, enabling them to offer trading and custody services directly to customers. That would mark a big shift in where custody and trading services could be offered in Japan.
Stricter disclosure demands and insider-trading rules would probably raise costs for exchanges and token issuers. Smaller platforms might drop tokens that are expensive to support under the new rules.
At the same time, the changes would aim to reduce market abuse tied to non-public information, such as upcoming listings or delistings. Enforcement, however, will be tricky; tracing off-exchange trades and private wallets across borders remains difficult.
Exchanges need to improve token documentation and governance records. Institutions that eye custody services must prepare risk controls, compliance checks and investor disclosures now, because banks that want to enter will face tight scrutiny.
Featured image from PlanetofHotels.com, chart from TradingView
