Shigeru Kiyomizu: Japan's Financial Services Agency Plans to Adjust Crypto Asset Regulatory Framework

According to CoinPost, Shigeru Shimizu, Chief Analyst of Risk Analysis at the Planning and Policy Bureau of the Financial Services Agency of Japan, stated at the "9th BCCC Collaborative Day" that the Financial Services Agency has submitted a bill to the special parliament, planning to transfer crypto assets from the Payment Services Act to the Financial Instruments and Exchange Act. This includes regulations on information disclosure, the establishment of a new independent business category, strengthened penalties for unregistered operators, and improvements to insider trading regulations. Meanwhile, the Financial Services Agency is advancing three experimental projects to enhance payments: cross-border payments with yen stablecoins, on-chain settlement of securities based on blockchain, and interbank transfers of tokenized deposits. These experiments are being promoted in conjunction with the Bank of Japan’s central bank reserve tokenization sandbox project.