The Japanese government plans to review current crypto regulations in an effort to improve user protection and support the development of the domestic crypto market.
Crypto Assets and Social Problems
Prime Minister Shigeru Ishiba has expressed his belief that crypto assets can help solve social problems and increase economic productivity.
Regulation of the Japanese Crypto Market
The Financial Services Agency of Japan has been closely monitoring the crypto market since 2017, shaping policies and legal norms that some believe hinder the sector's growth.
Changing the Legal Status of Cryptocurrencies
The Finance Ministry is ready to change the legal definition of crypto assets, as there have been debates around assets like Bitcoin being primarily traded for investment purposes.
The Japanese government aims to create more favorable conditions for the development of the crypto industry and ensure the protection of its participants. Final legislative amendments are expected by June 2025.
