Japan's newly elected Prime Minister Sanae Takaichi may open the door to more "refined" regulations to promote the development of the country's cryptocurrency economy, potentially making Japan the next global hub for crypto companies.
Sanae Takaichi was elected leader of the Liberal Democratic Party (LDP) last Saturday and will become Japan's first female Prime Minister when she takes office on October 15.
Experts say her leadership could introduce a more open stance towards technological experimentation, including blockchain innovation, while maintaining Japan's strict regulatory standards.
Elisenda Fabrega, General Counsel of the tokenization platform Brickken, stated that Takaichi's election could have a substantial impact on "the recognition and governance of digital assets in the country."
Fabrega told Cointelegraph that in her previous public roles, Takaichi expressed support for "technological sovereignty," including "the strategic development of digital infrastructure, including blockchain technology." "From a legal perspective, this suggests that her government may adopt a stance that is not only lenient but could actively promote the digital economy."
Fabrega added that Takaichi's political positioning could strengthen "Japan's commitment to legal certainty in the crypto space" and reignite interest in the country as an innovation-friendly crypto hub.
Maarten Henskens, COO of Startale Group and head of the Astar Foundation, stated that the Japanese government is viewing blockchain as "a pillar of its digital transformation strategy."
Henskens told Cointelegraph, "A more lenient monetary outlook under the new leadership could maintain liquidity and stimulate investor interest in alternative assets, including cryptocurrencies."
"At Startale and Astar, we believe this is a good environment to continue advancing Japan's Web3 ecosystem," he added.
During the election campaign, Takaichi was the only candidate to propose significant spending plans and a loose monetary policy. Her stance was well-received by voters facing a weak yen.
On Monday, Japan's Nikkei index surged 4.75% on the news of her election, reaching a historic high of 47,734.04 points.
Experts say Takaichi's government may bring greater clarity to the classification of tokens under the Financial Services Agency (FSA). The FSA currently distinguishes between payment tokens, securities, and utility tokens, each with different regulatory requirements.
Fabrega indicated that Takaichi's leadership may focus on the "refinement and expansion" of existing categories, particularly concerning custodial services, tokenized financial instruments, and investor protection standards.
"We may see the integration of regulatory tools related to anti-money laundering, stricter disclosure requirements for public offerings involving digital assets, and the establishment of a more structured framework for authorizing platforms engaged in token issuance or trading."
Japan has been developing its crypto regulatory framework since at least 2016, when the FSA amended the Payment Services Act (PSA) to establish a regulatory regime for the first registration requirements for cryptocurrency exchanges.
This was a response to the Mt. Gox collapse, which exposed the urgent regulatory gaps in the country.
In April 2017, the revised regulations took effect, requiring exchanges to register with the FSA and comply with anti-money laundering and know-your-customer standards.
In April 2018, cryptocurrency exchanges jointly established the Japan Virtual Currency Exchange Association (JVCEA), and the FSA granted JVCEA self-regulatory status in October 2018.
In June 2022, the Japanese parliament introduced new regulations allowing licensed financial institutions to issue fiat-backed stablecoins, requiring issuers to fully back stablecoins with domestic yen reserves.
In April 2023, the LDP released a white paper outlining strategies for Web3 and blockchain adoption, suggesting adjustments to tax policies and the approval framework for exchange-traded funds (ETFs).
In June, the FSA proposed reclassifying crypto assets as traditional financial products. This is expected to take effect in 2026, subjecting cryptocurrencies to a new tax regime.
Japan's evolving regulations may make the country a more attractive destination for cryptocurrency companies.
According to Chengyi Ong, Head of Policy for Asia-Pacific at Chainalysis, Japan's policy shift has already helped the country double its crypto adoption rate in the year ending September.
According to excerpts from Chainalysis' "2025 Cryptocurrency Geography Report," Japan has shown the strongest growth among the five major markets in the Asia-Pacific region, with on-chain received value increasing by over 120% year-on-year in the 12 months ending June 2025.
Related: Analysts: Precious metals trading "overheated," investors may turn to Bitcoin (BTC) in Q4
Original article: “Japan's New Prime Minister May Promote Crypto Economy Development and 'Refine' Blockchain Regulations”
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