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Japan’s Financial Services Agency (FSA) plans to revise the Financial Instruments and Exchange Act to classify cryptocurrencies as financial products by 2026, according to a recent report from Nikkei. This move aims to provide legal clarity for crypto laws in Japan, particularly in regards to insider trading rules.
Under the proposed law revision, all companies offering cryptocurrencies would be required to register with the FSA, including entities based outside of Japan. However, it remains unclear how these regulations will apply to foreign platforms and how they will enforce these rules on overseas firms that offer access to Japanese cryptocurrencies.
The report does not specify which digital assets would fall under this new classification or how authorities plan to treat major assets like Bitcoin (BTC) and Ether (ETH), as opposed to high-risk assets such as memecoins.
Source: https://coinchapter.com/japans-fsa-to-classify-cryptocurrencies-as-financial-products-under-new-law-by-2026/?utm_source=rss&utm_medium=rss&utm_campaign=japans-fsa-to-classify-cryptocurrencies-as-financial-products-under-new-law-by-2026
