The Japanese government recently made an official response to the proposal regarding the advancement of Bitcoin as a reserve asset put forth by Senator Satoshi Hamada. In the response, the Japanese government stated that it has not yet fully grasped the related developments in the United States and other countries, and mentioned that the introduction of Bitcoin as a reserve asset is still in the discussion phase, making it difficult for the Japanese government to express an opinion on specific situations. Additionally, the Japanese government pointed out that according to the legal framework for the use of special accounts, 'crypto assets do not fall under the category of foreign exchange,' and explained that the main objective of current foreign exchange reserves is the stability of foreign currency-denominated assets and the foreign currency bond market. The response document repeatedly emphasized that the use of special accounts prioritizes the security and liquidity of foreign exchange reserves. This indicates that the Japanese government believes that the price volatility of crypto assets, including Bitcoin, is high and does not align with the current system. The response document further indicates that, amidst ongoing discussions both internationally and domestically about incorporating crypto assets into national reserve strategies, the Japanese government maintains a cautious stance.

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