The Financial Services Agency of Japan advances the transition of crypto assets under the Money Settlement Business Law, simultaneously launching three stablecoin payment pilot experiments.

ChainCatcher News, according to market sources, at the “9th BCCC Collaborative Day” held on April 21, 2026, Shigemitsu Kiyomizu, Director of the Risk Analysis and General Policy Division of the Financial Services Agency, delivered a special speech, revealing major progress in cryptocurrency asset regulation. The Financial Services Agency has submitted a bill to the Special Diet, proposing to transfer cryptocurrency assets from the Fund Settlement Law to the Financial Instruments and Exchange Law, mainly involving four core areas: information disclosure regulation, the establishment of a new classification for independent operators, strengthened penalties for unregistered operators, and the regulation of insider trading.

Meanwhile, the Financial Services Agency is advancing three “Payment Enhancement Projects (PIP)” pilot experiments: first, a cross-border payment trial of Japanese yen stablecoins involving the three major banks; second, on-chain settlement of securities such as government bonds, corporate bonds, and stocks based on blockchain, aiming to achieve 24-hour continuous trading; third, a bank intermediation tokenized deposit transfer experiment supported just this month on April 3, which will be linked with the Bank of Japan’s central bank reserve tokenization sandbox project. Kiyomizu stated that blockchain has enormous potential to enhance the convenience of financial services and diversify products, and the Financial Services Agency will continue to promote institutional development and practical support.