- Japan’s FSA adds Shiba Inu to the elite Green List with Bitcoin and Ethereum.
- The listing simplifies SHIB trading on Japan’s licensed exchanges.
Japan’s financial regulator has ranked Shiba Inu alongside Bitcoin and Ethereum on an elite list. The meme coin is now part of the roughly 30 digital currencies that are approved for simplified trading. This achievement gives SHIB a chance to be eligible for tax benefits under the new reforms. The decision has the potential to completely change the way Japanese investors interact with cryptocurrency markets.
Japan Grants SHIB Regulatory Recognition
Japan has officially recognized Shiba Inu as one of the crypto assets on its Green List, ranking SHIB alongside about 30 crypto assets that are considered reliable in one of the world’s most stringent regulatory systems. The acknowledgement is a result of very strict assessments by Japan’s Financial Services Agency. These assessments look into the transparency of the project, the soundness of the technology, and the stability of the price.
It seems that SHIB is listed on at least eight exchanges that are licensed in Japan, thus surpassing the minimum requirement of three exchanges. The Green List makes it easier for trusted tokens to get approval. The system, which was initially set up at the beginning of 2022, allows for quicker authorization of trading for the assets that are recognized.
At present, Japan imposes taxes on cryptocurrency gains with rates that can go up to 55%under the classification of miscellaneous income. The Financial Services Agency is, however, suggesting that the approved digital assets be reclassified as financial products.
In reforms planned for the 2026 fiscal year, the FSA intends to lessen the crypto tax rates from 55% to a flat 20% rate. Such a change would make the taxation of cryptocurrencies consistent with that of stock market investments. The tax revamp has the feature of loss carry-forward for three years, which is estimated to open up around five trillion yen of institutional capital. Finance Minister Katsunobu Kato said that the regulators are ironing out the details of these policies.
The new regime sets out more rigorous disclosure requirements for cryptocurrencies that are listed. Exchanges are obliged to furnish comprehensive information about token issuers, the blockchain technology that is the basis, and the volatility profiles. Besides that, the reforms prohibit insider trading in the crypto sector. The measures are directed at individuals who have access to non-public information about listings or financial situations of the issuers.
Representatives from the industry think these changes will bring institutional investors who may have shied away due to complicated tax structures. The new simplified framework produced easier avenues for both retail participants and corporations. The Shiba Inu community members believe this is the world’s validation that the token is more than just a meme token.
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Source: https://thenewscrypto.com/shiba-inu-secures-green-list-status-in-japan-alongside-bitcoin-ethereum/
