Japan’s revised Financial Instruments and Exchange Act cleared the House of Councillors in a plenary vote on July 15, according to Nikkei. The change formally brings crypto assets, described in the report as virtual currencies, into the country’s financial instruments regulatory framework. The law is framed around stronger user protection and also requires exchanges to set aside liability reserves. Industry participants cited in the report expect the move to become a key trigger for shakeouts, consolidation, and restructuring across the sector. Masahiko Saito, director of the Market Division at Japan’s Financial Services Agency, said clearly that the agency does not endorse crypto asset trading and does not make recommendations on it. The measure adds a stricter compliance layer for exchanges while drawing a sharper regulatory line around how crypto is treated in Japan.
Japan’s revised Financial Instruments and Exchange Act was approved in a plenary vote of the House of Councillors on July 15, formally placing crypto assets, described in the report as virtual currencies, under the country’s financial instruments regulatory framework, according to Nikkei.
The new law is designed to strengthen user protection and requires exchanges to pay liability reserves. The industry widely expects the measure to become an important trigger for shakeouts, consolidation, and restructuring.
Masahiko Saito, director of the Market Division at Japan’s Financial Services Agency, said the agency does not endorse crypto asset trading and does not make any recommendations regarding it.
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