TOKYO — Japan’s Financial Services Agency (FSA) is considering regulations that would define cryptocurrency as financial products subject to insider trading rules and reduce the tax rate on profits, the Asahi newspaper reported on Sunday. Under the new regulations, banks and insurance firms would be allowed to sell cryptocurrencies to depositors and insurance holders through their securities subsidiaries, it said. Profits earned from cryptocurrency transactions would be subject to a 20 percent tax rate, equivalent to that for stock trading, down from the current rate of up to 55 percent, it said. The FSA hopes to pass necessary legislation in next year’s ordinary parliament session, the Asahi said, without citing sources. The agency did not immediately respond to a request for comment.