Japan’s Financial Services Agency has proposed exempting trust-based stablecoins from mandatory tax reporting requirements starting in fiscal 2027, according to a tax reform request submitted for 2026. Under the proposal, issuers or relevant parties would no longer need to file beneficiary trust reports and calculation statements that include beneficiaries’ names and income. The agency said the exemption is warranted because trust-based stablecoins circulate among a large number of users, are traded frequently and in high volume, and do not themselves generate income simply by being held. If the measure wins legislative approval, it would take effect on April 1, 2027. The proposal sits within Japan’s broader push to place crypto assets inside the regulatory framework used for traditional financial assets. In July this year, Japan’s parliament passed a revision classifying crypto assets as financial assets under the Financial Instruments and Exchange Act, a direction that had been signaled earlier in January by Finance Minister Satsuki Katayama.
Japan’s Financial Services Agency (FSA) has proposed exempting trust-based stablecoins from mandatory tax reporting requirements starting in fiscal 2027, according to ChainCatcher.
Under the proposal, trust-based stablecoins would not need to submit beneficiary trust reports and calculation statements containing beneficiaries’ names and income. The FSA said the reason is that these stablecoins circulate among a large number of users, are traded frequently and in large volumes, and do not generate income simply by being held.
If approved through legislation, the exemption would take effect on April 1, 2027.
The move forms part of Japan’s broader effort to bring crypto assets into the regulatory framework for traditional financial assets. In July this year, Japan’s parliament passed a revision that classifies crypto assets as financial assets under the Financial Instruments and Exchange Act. That policy direction was first signaled in January by Finance Minister Satsuki Katayama.
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