Japan's Ruling Party Pushes Crypto ETFs, Yen-Denominated Stablecoins

A group of lawmakers in the Liberal Democratic Party is pressing for changes to Japan's cryptocurrency tax rules and backing efforts to develop yen-denominated stablecoins. The LDP’s Parliamentary Association for the Promotion of Blockchain delivered recommendations to Finance Minister Satsuki Katayama that cover stablecoins, exchange-traded funds, central bank digital currencies and other blockchain applications.

The document proposes doubling the leverage cap for retail cryptocurrency derivatives trading and establishing a framework for ETFs tied to digital assets. Katayama said Japan "must move forward without falling behind global developments," referencing crypto legislation and frameworks in the United States.

Japan

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