The Financial Services Agency announced on August 31 its requests for the fiscal year 2027 tax reform. It is seeking an exemption from the submission of tax documents required when the beneficiary of a trust-based stablecoin, also known as a specific trust beneficiary right, changes. Due to the nature of these assets as a circulating medium of exchange, trustees are unable to continuously track the names and changes of holders. This request is included under the 'Promotion of Financial Innovation' section.