Golden Finance reported that the Japanese government recently issued a formal reply to the proposal put forward by Senator Hamada Satoshi on the “proposal of the United States and other countries to promote Bitcoin as a reserve asset.” In its reply, the Japanese government stated that it has not yet fully grasped the relevant trends in the United States and other countries, and mentioned that the introduction of Bitcoin as a reserve asset is still in the discussion stage, and it is difficult for the Japanese government to express an opinion on the specific situation. In addition, based on the legal framework for the use of special accounts, the Japanese government pointed out that "encrypted assets do not fall into the category of foreign exchange," and explained that the current foreign exchange reserves are mainly aimed at stabilizing assets denominated in foreign currencies and the foreign currency bond market. The reply document repeatedly emphasized that the use of special accounts gives priority to ensuring the safety and liquidity of foreign exchange reserves. It can be seen that the Japanese government believes that the price volatility of crypto assets, including Bitcoin, is high and incompatible with the current system. The reply document once again shows that the Japanese government still maintains a cautious stance against the backdrop of ongoing international and domestic discussions on incorporating crypto assets into the national reserve strategy.