The Japanese government recently made a formal response to the proposal by Senator Hamada Akira regarding the trend of countries like the United States promoting Bitcoin as a reserve asset. In the response, the Japanese government stated that it has not yet grasped the relevant trends in the United States and other countries in detail, and mentioned that the introduction of Bitcoin as a reserve asset is still in the discussion stage, making it difficult for the Japanese government to express an opinion on the specific situation. Furthermore, the Japanese government pointed out, based on the legal framework for the use of special accounts, that 'cryptographic assets do not fall under the category of foreign exchange, etc.', and explained that the current foreign exchange reserves aim primarily at the stability of assets priced in foreign currency and the foreign bond market. The response document repeatedly emphasizes that the use of special accounts prioritizes ensuring the safety and liquidity of foreign exchange reserves. Thus, it is evident that the Japanese government believes that the price volatility of cryptographic assets, including Bitcoin, is high and does not align with the existing system. The response document once again indicates that, against the backdrop of ongoing discussions both internationally and domestically about incorporating cryptographic assets into national reserve strategies, the Japanese government still maintains a cautious stance.

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