Regulators in Japan have a new proposal: to treat digital currencies as methods of payment, or like the Japanese currency.

According to a Nikkei report, the Japan Financial Services Agency (FSA) is mulling on whether it needs to make some changes that “would recognize bitcoins and other virtual currencies as fulfilling the functions of currency.”

They are now recognized as objects but are not treated on a par with their more established counterparts,” the news outlet stated.

Under FSA’s proposal, virtual currencies like bitcoins can be used not only to buy goods and services, but also as an alternative for legal tender through purchases or trades. The revisions are expected to be submitted during the current ordinary Diet session, and FSA hopes they will be passed before the session ended.