From SBI’s expanding Ripple partnership to potential crypto ETF reforms, Japan’s role is growing.

Even in times when XRP and the company behind it were not in good shape in their home country, Japan has long stood out as a major ally. However, the most recent regulatory and institutional developments suggest that the country could play an even bigger role in their future.

Over the past several months, Japan has accelerated efforts to modernize its digital asset framework and has proposed legal reforms to classify many cryptocurrencies as financial instruments, paving the way for spot ETFs. It also introduced a more investor-friendly tax regime.

Although the legislation…