[Japan] Landmark crypto law passed as stablecoin payroll workers continue without tax rules

In Japan, the blockchain industry body, the Blockchain Promotion Council (BCCC), has announced the formation of a dedicated Taxation Committee to address a stablecoin payroll gap, Tech Times reports.

Thousands of workers receive JPYC yen stablecoins as payroll, retailers accept them at checkouts, and the country's three largest banks will soon launch a joint stablecoin, but no formal tax framework governs it.

The BCCC is led by Yoichiro Hirano, the founder of Japan's first blockchain industry organisation in 2016 and its chairman for a decade.

He announced the new committee with a mandate to compile policy proposals for the National Tax Agency and the Financial Services Agency through regular study sessions and research into international tax trends. 

The committee's launch event is reportedly scheduled for September 15 in Tokyo. Venue details will be published on the BCCC's official website.

Japan's revised Financial Instruments and Exchange Act, enacted by the National Diet on July 15, 2026, recently reclassified 105 specified crypto assets as financial instruments under the same statutory framework governing stocks, bonds, and investment trusts, and laid the groundwork for spot Bitcoin exchange-traded funds on the Tokyo Stock Exchange. 

However, the law omitted stablecoins and decentralised finance, leaving them under the older Payment Services Act framework with no updated tax guidance. 

The FSA has reportedly committed to finalising its stablecoin and custody framework by the end of 2026, leaving the BCCC committee with a distinct deadline.

Source: Tech Times

In Japan, the blockchain industry body, the Blockchain Promotion Council (BCCC), has announced the formation of a dedicated Taxation Committee to address a stablecoin payroll gap, Tech Times reports.

Thousands of workers receive JPYC yen stablecoins as payroll, retailers accept them at checkouts, and the country's three largest banks will soon launch a joint stablecoin, but no formal tax framework governs it.

The BCCC is led by Yoichiro Hirano, the founder of Japan's first blockchain industry organisation in 2016 and its chairman for a decade.

He announced the new committee with a mandate to compile policy proposals for the National Tax Agency and the Financial Services Agency through regular study sessions and research into international tax trends. 

The committee's launch event is reportedly scheduled for September 15 in Tokyo. Venue details will be published on the BCCC's official website.

Japan's revised Financial Instruments and Exchange Act, enacted by the National Diet on July 15, 2026, recently reclassified 105 specified crypto assets as financial instruments under the same statutory framework governing stocks, bonds, and investment trusts, and laid the groundwork for spot Bitcoin exchange-traded funds on the Tokyo Stock Exchange. 

However, the law omitted stablecoins and decentralised finance, leaving them under the older Payment Services Act framework with no updated tax guidance. 

The FSA has reportedly committed to finalising its stablecoin and custody framework by the end of 2026, leaving the BCCC committee with a distinct deadline.

Source: Tech Times