Japan Ruling Party Panel Urges Yen Stablecoin Promotion
A Liberal Democratic Party panel submitted a proposal to Finance Minister Satsuki Katayama calling for a legal framework to allow trading of crypto exchange-traded funds. The group also urged the government to promote yen-based stablecoins for settlement in Asia to drive blockchain innovation.
A ruling party panel in Japan proposed a legal framework on Monday to allow crypto ETF trading and promote yen-based stablecoins across Asia. The Liberal Democratic Party blockchain panel submitted the plan to Finance Minister Satsuki Katayama to modernize the national financial market. The move seeks to counter the rapid growth of dollar-pegged stablecoins favored by United States President Donald Trump.
### Expanding Digital Settlement in Asia The proposal urges the government to establish crypto ETFs as official investment vehicles to simplify digital asset exposure for retail investors. Lawmaker Junichi Kanda said the government should leverage its role as host of the Asian Development Bank meeting in May next year to showcase these blockchain innovations. Kanda noted that yen stablecoins are essential for future regional settlement.
