The country's bicameral parliament approved amendments to the Financial Instruments and Exchange Act. The changes classify cryptocurrencies as financial products, similar to stocks and bonds. Currently, the tax on profits from digital assets is as high as 55%. However, the amendments reduce the rate to 20%. After paying taxes at the maximum rate, an investor will retain 1.8 times more profit — 80% instead of 45%. At the same time, the amendments allow losses to be carried forward for three years into future periods. The reform is expected to take effect in January 2028, as its implementation will begin in fiscal year 2027. In addition, the changes tighten rules on insider trading and increase penalties and prison terms for crypto-related violations. The new provisions also lay the groundwork for the domestic issuance of spot crypto ETFs.