Japan has approved a bill to amend the Financial Instruments and Exchange Act to classify cryptocurrencies as financial products. The country also introduced a new tax system that would replace a top progressive rate of 55 percent on crypto gains with a single 20 percent rate. The proposal would apply stock-market insider-trading rules to crypto trading and require issuers to disclose information at least once a year. It is expected to take effect in fiscal 2027 if passed in the current parliamentary session.

Suspicions have resurfaced that Japan\'s prime minister\'s office had prior knowledge of a memecoin called Sanae Token. BeInCrypto reported on April 7 that market attention has shifted to whether the episode will accelerate or complicate a regulatory overhaul. The token, launched on Solana on Feb. 25, surged more than 40-fold before falling 58 percent after Sanae Takaichi denied being notified. Weekly Bunshun reported a developer said Takaichi\'s office was informed.