"Honestly, the future is uncertain."
This phrase is frequently heard in conversations with stakeholders both inside and outside the industry. Whether from the Web3.0 sector or large corporations, the candid sentiments expressed from each perspective carry an undeniable sense of melancholy.
Particularly from cryptocurrency exchange operators, there are frequent comments about the unexpectedly heavy costs of complying with the Financial Instruments and Exchange Act. Many companies are already quietly preparing for the law's implementation around the summer of 2027 by urgently discontinuing the handling of cryptocurrencies that do not promise profitability. Despite these efforts, there is widespread anxiety, especially among independent small and medium-sized enterprises, about whether they can truly comply with the Act, and the more discussions unfold, the more their struggles become apparent.
On the other hand, the concerns of large corporations, which have gained a legitimate reason to accelerate their entry due to the amendment of the Financial Instruments and Exchange Act, differ.
For instance, a financial institution mentioned that they are starting by addressing the fundamental question of whether it is possible to scale related products of cryptocurrencies and stablecoins in Japan.
Whether it is cryptocurrencies or stablecoins, their potential is recognized. However, introducing emerging assets and payment methods in Japan, where existing operations and payments are already sufficient, poses a significant challenge, especially considering the national character.
