On March 6, Startale CEO Sota Watanabe revealed on social media: "Today is an important day in Japan. The ruling party proposes a new framework to regulate cryptocurrencies under the Financial Commodity Exchange Act. If approved this year, a reduction in crypto ETFs and taxes from a maximum of 55% to 20% is likely to materialize. I am 100% sure that more Japanese will enter the world on the chain." Watanabe further explained: "In Japan, cryptocurrencies are likely not to be regulated as securities, but as a new asset class under the new framework of the Financial Commodity Exchange Act. If passed, it would be a victory for the industry. The government has been in dialogue with Japanese industry leaders, and this is a good result of cooperation."