Japan’s ruling party pushes crypto ETFs, yen-denominated stablecoins

The Parliamentary Association for the Promotion of Blockchain delivered recommendations to Japan’s finance minister on crypto and blockchain.

A group of lawmakers within Japan’s Liberal Democratic Party (LDP) are seeking reforms to the country's cryptocurrency taxation system, as well as support for initiatives for the development and adoption of yen-denominated stablecoins.

According to a Monday Nada News report, the LDP’sParliamentary Association for the Promotion of Blockchain delivered recommendations to Finance Minister Satsuki Katayama, including provisions on stablecoins, exchange-traded funds (ETFs), central bank digital currencies (CBDCs), and applications for blockchain technology.

The document proposes doubling the leverage cap for retail cryptocurrency derivatives trading and establishing a framework for ETFs tied to digital assets.

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