LDP lawmakers discuss crypto property rights in Japan

A blockchain-focused caucus of lawmakers from Japan’s Liberal Democratic Party held a meeting to discuss regulatory improvements, including clearer property rights for cryptocurrencies. The Japan Blockchain Association proposed defining the legal status of cryptocurrencies and digital assets, clarifying legal property rights, and allowing stablecoins for tax payments. Yuzo Kano, the JBA’s representative, stated that cryptocurrencies held by individuals through private keys lack clear legal character and should be classified as electronic property rights. Seiji Kihara, head of the caucus, noted that revising relevant laws may take time, with Japan planning to first enhance rules related to securities custody and investment trusts.

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