Japan’s ruling party, the Liberal Democratic Party (LDP), is urging the government to promote yen-backed stablecoins across Asia and establish a legal framework for cryptocurrency exchange-traded funds (ETFs). The reported proposal, submitted to Finance Minister Satsuki Katayama by the party’s blockchain promotion panel, shows Japan’s determination to position the yen as a competitive digital settlement currency for global finance. The recommendations from Japan’s ruling party are another clearest sign yet that the country views stablecoins and crypto investment products as strategic components of its future ... (full story)