the Japanese Ministry of Finance has begun considering positioning cryptocurrency as a financial product similar to securities, with the aim of requiring companies to disclose more detailed information to protect investors. Currently, the Ministry of Finance is holding closed-door study meetings with experts to examine whether the current regulation of virtual currency is sufficient. It is reported that the Ministry of Finance has begun designing a system that will announce policy reforms in June of this year and amend the law in the ordinary National Diet in 2026 after discussions at the Financial System Council in the fall of this year. The new system also aims to lift the ban on "Bitcoin spot ETFs" and may reduce the current tax rate of up to 55% to 20%, the same as the financial income tax rate, in order to achieve the goal of protecting investors and revitalizing the market. An important question for the future is whether the target is all cryptocurrency assets or only those that have been approved in the United States as ETF assets, such as Bitcoin and Ethereum.