The government is focusing on both regulatory and diplomatic spheres. Japanese authorities are concentrating on integrating laws as the Financial Services Agency set up a new unit to control cryptocurrency regulatory frameworks.
Reuters referred to three anonymous officials and mentioned that Japanese financial authorities are concerned over the influence of digital assets on the financial sphere within the country. Cryptocurrencies are moving rapidly, and they can no longer be left unattended.
In addition, the Japanese government is considering collaboration with other global economic giants in taking the booming segment of digital assets under control.