At the end of last year, Bitcoin broke through the $100,000 mark, but since then, it has been subject to wild fluctuations, seemingly influenced by the economic policies of the Trump administration, and has failed to stabilize. This high volatility is unwelcome for Japan, which is trying to transform cryptocurrencies into sound financial products that can be included in well-regulated investment portfolios.
President Trump had expressed intentions to establish laws related to cryptocurrencies, but the progress has been hard to track due to the abundance of other topics in the discourse.
Cryptocurrencies are increasingly impacting the global financial system, and governments worldwide are striving to balance regulation and utilization. Japan and the US, being advanced in legal systems, financial systems, and technological infrastructure, attract significant international attention to their policy directions. Behind the scenes of sensational market disruptions, solid groundwork is steadily being laid.
This article will organize and discuss the current state and characteristics of cryptocurrency policies in the US and Japan, exploring their similarities, differences, and the challenges and prospects for the future.
First, let's review the current state of cryptocurrency-related legal developments in both countries, their progress, and future plans based on the information currently available. Surprisingly, the initiatives are more advanced than we might think, and as legal frameworks evolve, new issues emerge that we must learn from and understand the key points that will become necessary beyond 2025.
Both countries are facing the newly emerged cryptocurrencies within their different cultural contexts. Broadly summarizing the differences, Japan prioritizes a clear legal framework for cryptocurrency transactions and user protection, whereas the US focuses on 'flexibility' to not hinder further innovation. Currently, the US is struggling with setting regulatory boundaries, but once a policy is decided, its implementation seems to proceed quickly.
Going forward, the construction of an international cooperative framework and system design suitable for the Web3.0 era will be required.
