Minister calls exchanges “crucial” for crypto access

Japan is signaling that crypto is no longer a fringe experiment, but a pillar of its future financial system. In a clear show of political backing, the country’s finance minister has called for digital assets to be woven directly into Japan’s stock and commodity exchanges, positioning 2026 as a decisive “digital year” for capital-markets reform.

Speaking during a New Year’s address at the Tokyo Stock Exchange, Finance Minister Satsuki Katayama said stock and commodity exchanges will play a “crucial” role in expanding public access to digital and blockchain-based assets.

She pointed to the rise of crypto exchange-traded funds (ETFs) in the United States as an example of how regulated, listed products can give investors exposure to crypto — and even act as inflation hedges — suggesting similar models could eventually take shape in Japan.

At present, Japan does not offer any domestic crypto ETFs. Still, Katayama’s comments signal growing openness to integrating digital assets into familiar market structures rather than keeping them confined to standalone crypto platforms.

Katayama described 2026 as Japan’s “digital year,” pledging full government support for exchanges to build an innovative, technology-driven trading environment that incorporates digital assets and other next-generation financial instruments.

The minister’s remarks come amid a broader crypto reform push that gained momentum over the past year. In November, Japan’s Financial Services Agency (FSA) finalized plans to reclassify 105 major cryptocurrencies — including bitcoin and ether — as financial products, bringing them under existing regulatory frameworks and making it easier to integrate tokens into traditional financial markets.

Regulators are also seeking to cut the maximum tax rate on qualifying crypto assets from 55% to 20%, aligning them more closely with stocks and investment trusts — a move widely seen as critical to improving Japan’s competitiveness as a digital asset hub.

Banks, stablecoins, and broader integration

Japan has also begun cautiously opening the door for deeper banking-sector involvement in crypto.

In October, regulators discussed allowing banks to trade and hold digital assets, while the FSA approved the country’s first yen-pegged stablecoin, JPYC, marking an important step toward regulated, tokenized yen use cases.

Katayama framed these reforms as part of a wider effort to confront Japan’s long-standing structural challenges, including deflation, by channeling capital into growth sectors and digital infrastructure — with crypto, tokenization, and blockchain now firmly positioned within the government’s broader economic strategy.