ChainCatcher message, after the Japanese Financial Services Agency announced plans to start viewing cryptocurrencies like Bitcoin as "financial assets", the classification of cryptocurrencies may change. Official documents show that the Financial Services Agency has announced its position in the 2025 fiscal year tax reform request, hoping to begin viewing crypto assets as "financial assets that the general public can invest in."

Currently, Japanese law classifies crypto assets as "payment instruments" under the provisions of the Payment Services Act. A shift towards a definition that places more emphasis on "investment" would represent a form of legalization for cryptocurrencies, but this change seems to depend on the stability of the cryptocurrency industry.