Japan is reclassifying certain cryptocurrencies to align them with their legal framework, which may facilitate the approval of cryptocurrency exchange-traded funds (ETFs) in the country. Additionally, there is a proposed shift in tax regulations that could impact crypto investments, making the environment more favorable for both investors and companies in the crypto sector.

The IRS has lost two key crypto initiative directors, Seth Wilks and Raj Mukherjee, who accepted voluntary resignation offers amid staff cuts. Both officials were involved in improving crypto taxation and compliance but are now on paid administrative leave after their departure from the agency.