According to CoinMeta, the Financial Services Agency of Japan (FSA) has requested that trust-based stablecoins be exempted from mandatory tax reporting starting from the 2027 fiscal year, believing that this will facilitate their use as a trading tool. FSA calls on regulatory authorities to exempt trust-based stablecoins from the requirement to submit beneficiary reports and calculation statements, arguing that these stablecoins are circulated among a wide range of users, and that users holding these assets do not generate any income from them. This tax exemption requires legislative approval and is expected to take effect on April 1, 2027. Japanese legislators are gradually bringing crypto assets under the regulatory framework of traditional financial assets.