PANews reported on March 7 that Sota Watanabe, founder of Astar Network, revealed on the X platform: "In Japan, cryptocurrencies may not be considered securities, but rather regulated as a new asset class under the new framework of the Financial Instruments and Exchange Act. If the bill is passed, it will be a victory for the cryptocurrency industry. The Japanese government has been in consultation with industry leaders in Japan, and this is a positive outcome of the cooperation between the two sides."

Earlier yesterday, Japan's ruling party proposed to lower the upper limit of the crypto tax rate to 20% to match stock investments .