Japan’s Financial Services Agency Mulls Crypto Regulation Under FIEA

Japan’s Financial Services Agency has proposed transferring cryptocurrency oversight from the Payment Services Act to the stricter Financial Instruments and Exchange Act. The move aims to address issues such as unregistered operations, scams, disclosure gaps, and security flaws, while improving investor protection. If approved by the Financial System Council and government, this regulatory shift could bring crypto under securities-style rules and set a new benchmark for digital asset regulation in the region.