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Bitcoin takes a dip as Japan considers new crypto rules

Business

Bitcoin just slid back to $93,684—its lowest since May—after peaking near $125,000 in October.
This drop comes as Japan's Financial Services Agency (FSA) is considering shaking up crypto regulations, which could impact over 100 coins like Bitcoin and Ethereum.

What's changing for crypto in Japan?

The FSA wants to treat cryptocurrencies more like financial products under insider trading laws.
If these changes go through, exchanges would have to be upfront about price risks, and the tax on crypto profits could drop from 55% to 20%.
Plus, banks and insurance companies might soon be able to sell crypto through their securities arms if lawmakers approve the plan next session.