Japan’s Financial Services Agency (FSA), the country’s financial regulator, has requested tax changes for trust-type stablecoins, also known as specified trust beneficiary rights. The agency wants tax documents to be unnecessary when beneficiaries change because these instruments circulate as payment methods, making it difficult for trustees to track each holder and every change. The request also separately covers foreign-issued trust-type stablecoins and calls for a review of the obligation to submit designated reports. Only this one proposal was included under the FSA’s financial innovation promotion category.