PANews reported on December 27 that Japan has implemented stricter regulations to strengthen supervision of unregistered cryptocurrency exchanges.

According to the Japanese Financial Services Agency's "Reiwa 7 Tax System Reform Outline", Japan plans to reform the tax system for crypto asset transactions, aiming to position crypto assets as part of national asset formation. Specific measures include establishing an obligation for service providers such as exchanges to report transaction details to tax authorities, and to implement the necessary legal framework for investor protection in line with other financial products.