Japan's House of Representatives has approved a bill to regulate cryptocurrencies under the Financial Instruments and Exchange Act, aligning them with stocks and bonds. This legislation reduces the tax rate on cryptocurrency gains from a maximum of 55% to a fixed 20%, effective in 2028. The bill also enhances penalties for unregistered crypto sellers and paves the way for crypto ETFs, with potential listings on the Tokyo Stock Exchange as early as next year. The bill awaits Senate approval and aims to foster a robust trading environment while stablecoins remain regulated as payment services.