According to CoinMeta, as reported by Coinpost, the Japanese Financial Services Agency announced tax reform proposals for the fiscal year 2027 on August 31st, suggesting the exemption of the obligation for trust-based stablecoins to submit relevant beneficiary tax information to the tax authorities when there is a change in beneficiaries. The Financial Services Agency pointed out that since trust-based stablecoins serve as sustainable payment tools, each transfer may result in a change in beneficiaries, making it practically difficult for trustees to keep track of the names of holders and changes to their status. In addition, the Japanese Financial Services Agency also put forward related tax reform proposals for trust-based stablecoins issued overseas. The above proposals will be discussed by the Japanese government and the ruling party and may be included in the tax reform framework for the fiscal year 2027 to be established by the end of the year.