#USIranStandoff Japan's Financial Services Agency (FSA) plans to reclassify XRP from a "crypto asset" to a financial product.
The Japanese Financial Services Agency (FSA) plans to reclassify Ripple's $XRP from a "crypto-asset" under the Payment Services Act to a financial product regulated by the Financial Instruments and Exchange Act (FIEA) by the second quarter of 2026.
The adjustment would give $XRP an "investment-grade" legal status similar to stocks and bonds, and introduce stricter disclosure, investor protection, and prohibitions against insider trading and market manipulation.
At the same time, Japan plans to uniformly levy a 20% capital gains tax (previously up to 55%) on digital assets recognized as financial products in the FY2026 tax reform.
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