Japan has approved new cryptocurrency reforms that ease regulations for brokerages and allow stablecoins to be backed by government bonds. These changes aim to simplify the entry of new brokerages into the market and may lead to cryptocurrencies being classified as securities by 2026. In the United States, the Securities and Exchange Commission (SEC) is moving away from regulating cryptocurrencies under its exchange rules. Acting SEC Chair Mark Uyeda has directed staff to explore options for abandoning a portion of a proposed rule that would have included crypto exchanges within the agency's oversight. This decision follows significant negative public feedback and marks a shift from policies pursued under former chair Gary Gensler.