Japan's Financial Services Agency plans to shift cryptocurrency asset regulation to the Financial Instruments and Exchange Act.

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ME News, April 23 (UTC+8), Shigeru Shimizu, an official from Japan’s Financial Services Agency, stated at the BCCC Collaborative Day that with the popularization of crypto assets, the authorities have submitted a bill to transition cryptocurrency regulation from the Payment Services Act to the Financial Instruments and Exchange Act. According to the introduction, the bill positions crypto assets as financial products distinct from securities, with a focus on strengthening information disclosure, oversight of operators, penalties for unlicensed operations, and insider trading regulations. At the same time, the Japanese Financial Services Agency is advancing three pilot projects for payment optimization, covering joint issuance of yen stablecoins, on-chain securities settlement, and interbank tokenized deposit transfers. (Source: MLion)
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